Navigation Links
Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
Date:9/26/2007

ALEXANDRIA, Va., Sept. 26 /PRNewswire/ -- Oxford Finance Corporation, one of the nation's leading providers of senior debt to the life science community, today announced it has finalized a $7 million secured loan agreement with Othera Pharmaceuticals, Inc. The debt facility will be used to support Othera's goal to become a leading specialty pharmaceutical company focused on novel, patient-administered formulations for ophthalmology, oncology and inflammatory disease.

"This is one of several opportunities we've had to provide financing to Othera," said J. Alden Philbrick, president and chief executive officer of Oxford. "Our business relationship with Othera began with a $1 million equipment loan in 2004, and we continue to be proud to fuel their innovative small molecule development program."

"The additional financing provided by Oxford will be applied to ongoing research and development efforts for our ophthalmic lead compound, OT-551, which is currently in Phase 2 studies, and our new development program for OT- 304 in thrombosis, oncology and inflammatory disease," said Philip Heifetz, vice president of finance and business development for Othera. "Oxford has demonstrated a strong commitment to Othera, and we look forward to a long and expanded relationship as our products advance through our pipeline."

About Oxford Finance Corporation

Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, is a specialty finance firm providing senior secured loans to public and private life science companies worldwide. For nearly 20 years, Oxford has delivered flexible financing solutions to its clients, enabling them to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $600 million in loans, with lines of credit ranging from $100 thousand to $20 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information, visit http://www.oxfordfinance.com.

About Othera Pharmaceuticals, Inc.

Founded in 2002, Othera Pharmaceuticals, Inc. is a privately-held, specialty pharmaceutical company located in Exton, PA. Othera is focused on developing novel, patient-administered formulations for ophthalmology, oncology and inflammatory diseases. Othera is developing topical eye drops for age-related diseases, including some of the leading causes of blindness. Othera is also developing a novel set of orally-administered compounds which may address severe medical conditions including cancer, thrombosis and chronic inflammatory disease. More information on Othera Pharmaceuticals is available on the company's website at http://www.othera.com


'/>"/>
SOURCE Oxford Finance Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Early Stage: Step 11 - Other forms of finance
2. Merge Healthcare hires new VP of finance
3. Joint Finance blocks Doyle ethanol measure
4. Third Wave shuffles finance, sales management
5. Finance Committee rejects extra tax on Internet buys
6. Two Milwaukee finance IT firms agree to exchange check images
7. An analysis of Wisconsins new venture capital and early stage finance programs
8. Trouble-shooting: Misincorporation or low fidelity
9. Roche Diagnostics Corporation
10. Roche Diagnostics Corporation
11. Promega Corporation: Wisconsins quiet innovator
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... 2016 , ... The Ankle Plating System 3 and Small ... fractures of the distal tibia and fibula. This system marks Acumed's continued commitment ... is composed of seven plate families that span the lateral, medial, and posterior ...
(Date:5/25/2016)... ... May 25, 2016 , ... The American Medical Informatics Association ... the National Coordinator for Health IT (ONC) outlining a measurement approach to interoperability ... available when and where it was needed. The organization of health informatics professionals ...
(Date:5/25/2016)... ... May 25, 2016 , ... WEDI, the nation’s leading authority on the use ... W. Stellar has been named by the WEDI Board of Directors as WEDI’s president ... executive leader with more than 35 years of experience in healthcare, association management and ...
(Date:5/25/2016)... ... 25, 2016 , ... Biohaven Pharmaceutical Holding Company Ltd. (Biohaven) ... company’s orphan drug designation request covering BHV-4157 for the treatment of Spinocerebellar Ataxia ... , Spinocerebellar ataxia is a rare, debilitating neurodegenerative disorder that is estimated ...
Breaking Biology Technology:
(Date:5/3/2016)... , May 3, 2016  Neurotechnology, a provider ... MegaMatcher Automated Biometric Identification System (ABIS) , ... multi-biometric projects. MegaMatcher ABIS can process multiple complex ... any combination of fingerprint, face or iris biometrics. ... SDK and MegaMatcher Accelerator , which ...
(Date:4/19/2016)... 2016 The new GEZE SecuLogic ... web-based "all-in-one" system solution for all door components. It ... the door interface with integration authorization management system, and ... The minimal dimensions of the access control and the ... installations offer considerable freedom of design with regard to ...
(Date:3/31/2016)... , March 31, 2016   ... ("LegacyXChange" or the "Company") LegacyXChange is excited ... of its soon to be launched online site for ... https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also provide potential shareholders a ... DNA technology to an industry that is notorious for ...
Breaking Biology News(10 mins):