Navigation Links
Pearl Therapeutics Secures $8 Million in Debt Financing

REDWOOD CITY, Calif., Feb. 24 /PRNewswire/ -- Pearl Therapeutics announced today that it has secured $8 million in venture debt financing. Oxford Finance Corporation and Silicon Valley Bank, a member company of SVB Financial Group (Nasdaq: SIVB), provided the capital which will be drawn in two tranches.

"We are very pleased to be working with Oxford and SVB. They are experienced and committed lenders with strong records of success evaluating risk and enabling development stage companies, particularly in the life science sector," said Adrian Smith, President and Co-founder, Pearl Therapeutics. "Our ability to secure this credit facility in today's tough economic environment speaks to the company's performance and demonstrates the confidence our lenders have in Pearl's future."

The funds will supplement the $33.5MM in equity financing Pearl has secured to date, and will be used for general growth purposes as Pearl advances development of its expanding pipeline of products.

"We are very impressed with Pearl's management team, promising products, and technology that will treat and prevent chronic respiratory diseases," said J. Alden Philbrick, President and Chief Executive Officer of Oxford Finance Corporation. "We look forward to supporting the company's progress toward achieving a leadership role in the respiratory space."

"Pearl is developing cutting edge therapeutics to address some of the most serious respiratory diseases," said Mercy Forde of Silicon Valley Bank. "SVB is proud to provide Pearl with financial resources it needs to continue to be successful and grow."

About Pearl Therapeutics, Inc.

Pearl is developing a portfolio of meaningfully differentiated products to treat respiratory diseases including COPD and asthma. Using its proprietary particle technology, formulation expertise, and unparalleled development experience, Pearl is rapidly advancing a pipeline of products that will offer alternatives to patients and healthcare professionals, ones that better meet their needs, and intend to improve disease management and quality of life.

Founded in 2006, Pearl Therapeutics is privately held and backed by Clarus Ventures, New Leaf Ventures and 5AM Ventures.

About Oxford Finance Corporation

A subsidiary of Sumitomo Corporation, Oxford 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 $1 billion in loans, with lines of credit ranging from $500 thousand to $30 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information, visit

About Silicon Valley Bank

Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital/private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve. SVB Private Client Services is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve.

SOURCE Pearl Therapeutics
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Pearl Therapeutics Closes $18 Million Financing Round Led By Committed Investors
2. MUSCs Hollings Cancer Center Dedicates Edwin and Barbara Pearlstine Healing Garden Endowed with $1 Million Gift from Edwin S. Pearlstine, Jr.
3. Pearl Therapeutics, Inc. Expands Its Senior Management Team With Top Talent in Clinical Development and Regulatory Affairs
4. String of fullerene pearls
5. Pearl Therapeutics Raises $15.5 Million in Private Financing
6. Amsterdam Molecular Therapeutics Reports Full Year Results 2008
7. Cell Therapeutics Exercises Its Option to Sell Interest in Zevalin Joint Venture to Spectrum Pharmaceuticals for $18 Million
8. CV Therapeutics Board of Directors Rejects Astellas Unsolicited Proposal
9. CV Therapeutics Reports 2008 Fourth Quarter and Full Year Financial Results
10. Sopherion Therapeutics Secures $55 Million in Series C Funding
11. Amicus Therapeutics Announces Change to Board of Directors
Post Your Comments:
(Date:11/24/2015)... 24, 2015  Twist Bioscience, a company focused ... Ph.D., Twist Bioscience chief executive officer, will present ... December 1, 2015 at 3:10 p.m. Eastern Time at The ... --> --> ... Bioscience is on Twitter. Sign up to follow ...
(Date:11/24/2015)... Vancouver, BC (PRWEB) , ... November 24, 2015 ... ... to our customer, OrthoAccel® Technologies, Inc., on being named to Deloitte's 2015 Technology ... Creation Technologies’ Texas facility, OrthoAccel manufactures AcceleDent®, a FDA-cleared, Class II medical device ...
(Date:11/24/2015)... , Nov. 24, 2015 HemoShear ... on discovering drugs for metabolic disorders, announced today ... to its Board of Directors (BOD). Mr. Watkins ... of Human Genome Sciences (HGS), and also served ... Jim Powers , Chairman and CEO ...
(Date:11/24/2015)... ... November 24, 2015 , ... Whitehouse Laboratories is pleased to announce ... stand-alone facility will be strictly dedicated to basic USP 61, USP 62 and USP ... chance to have complete chemistry and micro testing performed by one supplier. Management ...
Breaking Biology Technology:
(Date:10/29/2015)... Calif. , Oct. 29, 2015  The J. ... new report titled, "DNA Synthesis and Biosecurity: Lessons Learned ... the Department of Health and Human Services guidance for ... in 2010. --> ... it also has the potential to pose unique biosecurity ...
(Date:10/29/2015)... ANN ARBOR, Mich. , Oct. 29, 2015 ... with Eurofins Genomics for U.S. distribution of its ... DNA-seq kit and Rubicon,s new ThruPLEX Plasma-seq ... DNA to enable the preparation of NGS libraries ... in plasma for diagnostic and prognostic applications in ...
(Date:10/29/2015)... 29, 2015 NXTD ) ... focused on the growing mobile commerce market and ... StackCommerce, a leading marketplace to discover and buy ... smart wallet on StackSocial for this holiday season. ... the "Company"), a biometric authentication company focused on ...
Breaking Biology News(10 mins):