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Saladax Secures $9M Loan Facility from GE Capital

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Saladax Biomedical today announced the completion of a $9 million debt financing with GE Capital.

The secured loan facility will be used to support commercialization of Saladax's My5-FU assay, which measures levels of 5-flourouracil, a chemotherapy used in conjunction with other therapies for colorectal cancer and other solid tumors. The test is currently available in the European Union and Australia.

The loan will also be used to develop additional assays, Saladax said.

Based in Bethlehem, Pa., Saladax develops companion diagnostics.

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