loan agreement | GenomeWeb

loan agreement

The company said it ultimately plans to use the liquidity from the credit facility to fund a portion of its pending $4 billion acquisition of Cepheid.

The Belgian molecular diagnostics company said it will focus on expanding its capability to manufacture its Idylla diagnostics.

The Finnish firm is hoping to finalize manufacturing, validation, and commercialization of its new sample-to-result infectious disease diagnostics platform.

The company took out the credit in connection with its $4.2 billion pending acquisition of electron microscopy firm FEI.

The money is the second part of a loan agreement signed in 2014 with Oxford Finance and Silicon Valley Bank for a total of $16 million.

Thermo will invest £5 million in Premaitha as a secured loan facility, of which the firm will receive £3 million initially and the remainder as milestone payments.

Dragged down by sinking sales and test volumes at IDL, GeneNews looks to restructure its business.

The company will use the funds to grow its team and to further develop and validate its proprietary deep learning technology.

The firm raised $8 million since May and is no longer obligated to raise an additional $2 million by January 2016, per the original terms of the loan facility.

Invitae drew down an initial tranche of $2.5 million and can draw down additional tranches of up to $2 million each under the terms of the deal.

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