ALEXANDRIA, Va., April 29 /PRNewswire/ -- Oxford Finance Corporation, the principal lender, and Comerica Bank, today announced they have finalized a $15 million senior secured loan agreement with VisualSonics Inc. Both financial institutions are established providers of senior debt to the life science community.
VisualSonics' technology, the Vevo 770, provides scientific professionals with a simple method for efficiently viewing extremely small physiological structures in their native state and is used for imaging living tissue and blood flow with near-microscopic resolution. Vevo 770 facilitates noninvasive preclinical research in cardiac and vascular disease, cancer, stem cell research and developmental biology.
"VisualSonics has an expansive business strategy that builds on our past success," stated Tom Little, president and chief executive officer of VisualSonics. "We are encouraged that Oxford Finance has joined our stakeholders to support that strategy and provide funds for VisualSonics to expand its sales and marketing efforts, launch new products and broaden our product portfolio."
"Oxford is pleased to provide financial support for the expansion of VisualSonics' business," said J. Alden Philbrick, president and chief executive officer of Oxford Finance Corporation. "Their in vivo visualization technique is proving to be an essential part of the research efforts in a variety of major diseases."
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 20 years, Oxford has delivered
flexible financing solutions to its clients, enabling these companies to
maximize their equity by leveraging their assets. In recent years, Oxford
has originated over $900 million in loans, with lines of credit ranging
from $500 thousand to $30 million. Oxford is headquartered in Al
|SOURCE Oxford Finance Corporation|
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