loan agreement

The agreement consists of a $100 million revolving credit facility, a $100 million initial term loan, and a $50 million delayed-draw term loan.

The company drew $49 from the credit facility to repay an earlier outstanding loan and expects to draw another $27 million to, in part, pay for its acquisition of GenePOC.

The company also entered into two separate financing agreements totaling $41.5 million with Innovatus Life Sciences Lending Fund, East West Bank, and Aspire Capital.

The firm used about $38.8 million on Feb. 1 to repay all outstanding principal, interest, related fees, and other obligations under an existing loan agreement.

Karius said it will use the money to continue commercialization of its diagnostic technologies and to fund clinical studies, among other things.

The agreement amends and restates an existing loan and security agreement between NanoString and SVB to increase the size of the revolving loan facility to $20 million.

The company will use the proceeds in part to develop its Next Generation Profiling offering to analyze cancer genomes, transcriptomes, and proteomes with clinical outcome data.

The senior unsecured term loan facility was used, in part, to refinance a three-year loan agreement between BD, Citibank, and other lenders reached last year.

The company ended 2017 with $10 million in cash and cash equivalents, and raised $40 million in a public offering in January.

The company will use a portion of the credit facility to fund its announced acquisition of Integrated DNA Technologies.