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:12/9/2016)... ... 2016 , ... DuPont Industrial Biosciences (DuPont) and Archer Daniels ... Award from Platts Global Energy for their platform technology to produce a ... the 18th Platts Global Energy Awards, held in New York on Thursday, Dec. 8. ...
(Date:12/9/2016)... 2016 The research report by ... in the  Global Label-Free Array Systems Market  accounted for ... 2015. Players such as Biacore, Agilent Technologies, ForteBio, Molecular ... the global market due to their unmatched product portfolio ... upgrades and timely product launches are expected to be ...
(Date:12/9/2016)... China Cord Blood Corporation (NYSE: CO ... leading provider of cord blood collection, laboratory testing, hematopoietic stem ... results of its 2016 Annual General Meeting, which was held ... China . At the Annual General ... KPMG Huazhen LLP as the independent auditors of the Company ...
(Date:12/9/2016)... , December 9, 2016 According to a ... (Primer, Probe, Custom, Predesigned, Reagent Equipment), Application (Research, PCR, Gene, DNA, ... 2021" published by MarketsandMarkets, the global market is expected to reach ... at a CAGR of 10.6% during the forecast period. ... ...
Breaking Biology Technology:
(Date:11/21/2016)... Nov. 21, 2016   Neurotechnology , a ... technologies, today announced that the MegaMatcher On Card ... submitted for the NIST Minutiae Interoperability Exchange ... the mandatory steps of the evaluation protocol. ... continuing test of fingerprint templates used to establish ...
(Date:11/15/2016)... Md. , Nov. 15, 2016  Synthetic ... company developing therapeutics focused on the gut microbiome, ... offering of 25,000,000 shares of its common stock ... common stock at a price to the public ... proceeds to Synthetic Biologics from the offering, excluding ...
(Date:6/22/2016)... American College of Medical Genetics and Genomics was once again ... of the fastest-growing trade shows during the Fastest 50 Awards ... Las Vegas . Winners are ... of the following categories: net square feet of paid exhibit ... 2015 ACMG Annual Meeting was ranked 23 out of 50 ...
Breaking Biology News(10 mins):