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loan agreement

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.

The company used the proceeds from the financing to repay a $5 million loan. 

The company's CFO said the agreement reduces Hologic's interest expense, increases its financial flexibility, and extends its debt maturities.

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Nobel laureates and scientific societies urge NIH and the Department of Health and Human Services to revisit the recent decision to end funding for a coronavirus grant.

Bloomberg reports that BGI's SARS-CoV-2 testing sites in the Middle East have raised concerns among US officials.

A new Pew Research Center poll finds confidence in medical researchers has grown among US adults since the start of the coronavirus pandemic.

In Science this week: machine learning algorithm for faster Mendelian disorder diagnoses, gene linked to safe response to nitrogen-containing bisphosphonates, and more.