Navigation Links
Oxford Finance Corporation and GE Healthcare Financial Services Reaffirm Commitment to Biotech Sector in Europe
Date:12/10/2007

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 http://www.oxfordfinance.com .

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 http://www.gehealthcarefinance.com/europe .

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 http://www.astex-therapeutics.com/ .


'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... ... February 23, 2017 , ... Today, researchers ... CRP, adiponectin, uric acid, and/or other biomarkers or SNPs of interest) using one, ... Salimetrics’ SalivaLab , the relationship between insulin and other relevant biomarkers can be ...
(Date:2/23/2017)... , Feb. 23, 2017 Aviva ... tools, announced the acquisition of GenWay Biotech Incorporated, ... comprehensive service and product offering for both the ... will facilitate growth and enhance capabilities for both ... and ELISA assays will nicely complement ASB,s objective ...
(Date:2/22/2017)... Feb. 22, 2017  Aratana Therapeutics, Inc. (NASDAQ: PETX), a ... of innovative biopharmaceutical products for companion animals, will host a ... a.m. ET to discuss financial results from the fourth quarter ... Interested participants and investors may access the audio webcast ... ...
(Date:2/22/2017)... DIEGO , Feb. 22, 2017  PrimeVax Immuno-Oncology, ... will be presenting at the Annual Biocom Global Life ... March 2, at 11:15 AM, at the Torrey Pines ... thankful to the organizers at Biocom who have chosen ... international symposium of biotechnology companies, investors, and clinical researchers," ...
Breaking Biology Technology:
(Date:2/6/2017)... , Feb. 6, 2017 According ... security are driving border authorities to continue to ... reports there are 2143 Automated Border Control (ABC) ... currently deployed at more than 163 ports of ... 2013 to 2016 achieving a combined CAGR of ...
(Date:2/2/2017)...  Central to its deep commitment to honor ... Japan Prize Foundation today announced the laureates of ... envelope in their respective fields of Life Sciences ... being recognized with the 2017 Japan Prize for ... to the advancement of science and technology, but ...
(Date:1/26/2017)... , Jan. 26, 2017  Acuity Market Intelligence ... Biometrics and Digital Identity".  Acuity characterizes 2017 as ... when increased adoption reflects a new understanding of ... "Biometrics and digital identity are often perceived ... Maxine Most , Principal of Acuity Market intelligence. ...
Breaking Biology News(10 mins):