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:4/27/2016)... ... , ... Global Stem Cells Group and the University of Santiago ... and development initiatives for potential stem cell protocol management for 2016 – 2020. ... began meeting to establish a working agenda and foster initiatives to promote stem cell ...
(Date:4/26/2016)... ANGELES, Calif. (PRWEB) , ... April 27, 2016 ... ... Angeles office of Lewis Roca Rothgerber Christie LLP as an associate in the ... prosecuting U.S. and international electrical, mechanical and electromechanical patent applications. He has an ...
(Date:4/26/2016)... ... April 26, 2016 , ... Heidelberg ... the latest technology innovation for its Volume Pattern Generator (VPG) line of lithography ... of advanced photomasks as well as a solution for mid volume direct write ...
(Date:4/26/2016)... ... April 26, 2016 , ... BioFactura, Inc ., a ... round of financing. Healthy investor interest drove significant oversubscription of the original $1.5M ... known as biosimilars, to the advanced preclinical stages. , Chief Executive Officer and President, ...
Breaking Biology Technology:
(Date:3/31/2016)...   LegacyXChange, Inc. ... LegacyXChange is excited to release its first ... be launched online site for trading 100% guaranteed authentic ... also provide potential shareholders a sense of the value ... industry that is notorious for fraud. The video is ...
(Date:3/29/2016)... March 29, 2016 LegacyXChange, Inc. ... "LEGX" and SelectaDNA/CSI Protect are pleased to announce our ... in a variety of writing instruments, ensuring athletes signatures ... created collectibles from athletes on LegacyXChange will be assured ... the DNA. Bill Bollander , CEO ...
(Date:3/22/2016)... , March 22, 2016 ... research report "Electronic Sensors Market for Consumer Industry by ... & Others), Application (Communication & IT, Entertainment, ... - Global Forecast to 2022", published by ... is expected to reach USD 26.76 Billion ...
Breaking Biology News(10 mins):