Castle will use the proceeds to accelerate marketing and new product development related to its molecular prognostic tests for patients with underserved cancers.
The infectious disease diagnostics firm will initially receive $40 million from CRG, most of which will go towards paying down existing debt.
The company borrowed $205 million in revolving loans from the credit facility, which matures on December 23, 2021.
The company said it will use the proceeds for various purposes, including working capital, capital expenditures, stock repurchases, dividends, and acquisitions.
The company took out the credit in connection with its $4.2 billion pending acquisition of electron microscopy firm FEI.
The firm did not disclose how it intended to use the $8 million, but said that it would provide temporary working capital.
The company's new $14 million facility refinances its original $6 million loan, and adds capital for new growth.
The company said the draw down is to provide working capital to use on a temporary basis.
The London-based firm plans to fund development and clinical trials for its point-of-care diagnostic test for serious blood infections.
The company replaced an existing $2.5 billion facility with an amended and restated $4 billion facility and entered into a new $7 billion facility.
The Hill reports President Donald Trump issued an executive directing federal agencies to cut the number of board and advisory committees they have.
The New York Times reports that researchers are combining tools to more quickly develop crops to feed a growing population and cope with shifting climates.
Scientists in Canada are looking to the UK's plan to sequence children with rare conditions for inspiration, the National Post reports.
In PNAS this week: copy number changes arose during polar bear evolution, genomic and transcriptomic analysis of the Siberian hamster, and more.