Navigation Links
Oxford Finance Corporation and GE Healthcare Financial Services Reaffirm Commitment to Biotech Sector in Europe

LONDON, Dec. 10 /PRNewswire/ -- Oxford Finance Corporation and GE Healthcare Financial Services have provided a joint pounds Sterling 7.5 million senior secured loan to Astex Therapeutics Limited. This represents one of the largest venture loans provided to a biotechnology company in Europe.

Astex Therapeutics, based in Cambridge, England, is one of the largest privately-held biotech companies in the UK, concentrating on the discovery and development of small molecule drugs in areas of unmet medical need, with a primary focus on oncology. Astex has an expanding pipeline of products in clinical and pre-clinical development.

"The financing provided to us by Oxford and GE Healthcare Financial Services is an attractive and innovative supplement to the more traditional private equity route, which gives us additional flexibility to execute our strategy for the future," said John Aston, Chief Financial Officer at Astex Therapeutics.

"Oxford is proud to work with GE to provide financial support to Astex Therapeutics' significant drug development initiatives," said J. Alden Philbrick, President and Chief Executive Officer of Oxford Finance Corporation. "We are especially pleased to participate in a precedent-setting transaction with one of the leading companies in the UK's growing biotech industry."

"We were delighted to work with these two highly respected companies to close this landmark deal," said Marcus O'Neill, Vice President of GE Healthcare Financial Services' life sciences division in Europe. "We are dedicated to increasing our commitment to European biotech companies and this deal is an important step toward reaching that goal."

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 .

About GE Healthcare Financial Services

GE Healthcare Financial Services is a provider of capital, financial solutions, and related services for the global healthcare market. With over euro 12 billion of capital committed to the healthcare industry worldwide, GE Healthcare Financial Services offers a full range of capabilities from equipment and real estate financing to working capital lending, vendor programs, and corporate financing. With its knowledge of all aspects of healthcare from hospitals and long-term care facilities to physicians' practices and life sciences, GE Healthcare Financial Services works with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit .

About Astex Therapeutics Limited

Astex Therapeutics is a biotechnology company that discovers and develops small molecule drugs in areas of unmet medical need. The company's primary focus is in oncology. Astex has a broad and expanding pipeline of products in clinical and pre-clinical development generated using its proprietary drug discovery engine, Pyramid(TM). For more information, visit .

SOURCE Oxford Finance Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Oxford Finance Corporation Closes $7 Million Debt Facility with Othera Pharmaceuticals
2. Sir Walter Bodmer Joins Oxford Genome Sciences Scientific Advisory Board
3. Sigma-Aldrich and Oxford BioMedica Win Key Ruling in Open Biosystems Patent Infringement Dispute
4. Oxford Genome Sciences Appoints Chris Hibberd to its Board of Directors
5. Memry Corporation Announces Preliminary Fiscal Fourth Quarter and 2007 Revenue
6. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
7. AGA Medical Corporation Receives FDA and CE Mark Approvals for the AMPLATZER Vascular Plug II
8. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
9. BioElectronics Corporation Announces Singapore and Malaysia Sales
10. Avicena Signs Worldwide Exclusive Distribution Agreement with RITA Corporation for its Proprietary Dermaceutical Compounds
11. DURECT Corporation to Present at the NewsMakers in the Biotech Industry Investment Conference
Post Your Comments:
(Date:11/25/2015)... November 26, 2015 ... Market 2016 - 2020 report analyzes that automating ... and quality in long-term samples, minimizing manual errors, ... Automation minimizes manual errors such as mislabeling or ... Further, it plays a vital role in blood ...
(Date:11/25/2015)... HOLLISTON, Mass. , Nov. 25, 2015 ... HART ), a biotechnology company developing bioengineered organ implants ... McGorry will present at the LD Micro "Main ... 2:30 p.m. PT. The presentation will be webcast live ... Management will also be available at the conference for ...
(Date:11/25/2015)... 25, 2015 Orexigen® Therapeutics, Inc. (Nasdaq: ... a fireside chat discussion at the Piper Jaffray 27th ... . The discussion is scheduled for Wednesday, December 2, ... .  A replay will be available for 14 days ... , Julie NormartVP, Corporate Communications and Business Development , ...
(Date:11/24/2015)... ... , ... The United States Golf Association (USGA) today announced Dr. Bruce Clarke, ... annually since 1961, the USGA Green Section Award recognizes an individual’s distinguished service to ... Clarke, of Iselin, N.J., is an extension specialist of turfgrass pathology in the department ...
Breaking Biology Technology:
(Date:11/20/2015)... , November 20, 2015 ... company focused on the growing mobile commerce market and ... Gino Pereira , was recently interviewed on ... will air on this weekend on Bloomberg Europe ... America . --> NXTD ) ("NXT-ID" or ...
(Date:11/18/2015)... --> --> ... report titled  Gesture Recognition Market - Global Industry Analysis, ... to the report, the global gesture recognition market was valued at ... US$29.1 bn by 2021, at a CAGR of 20.3% ... dominated the global gesture recognition market in ...
(Date:11/17/2015)... 17, 2015 Pressure BioSciences, Inc. (OTCQB: PBIO) ... and sale of broadly enabling, pressure cycling technology ("PCT")-based ... today announced it has received gross proceeds of $745,000 ... Placement (the "Offering"), increasing the total amount raised to ... additional closings are expected in the near future. ...
Breaking Biology News(10 mins):