Navigation Links
Saladax Biomedical, Inc. Completes $9 Million Debt Financing With GE Capital
Date:6/21/2011

BETHLEHEM, Pa., June 21, 2011 /PRNewswire/ -- Saladax Biomedical, Inc., a privately held company developing and commercializing novel diagnostic assays to achieve the promise of personalized medicine for new and existing therapeutics, announced today the completion of a $9 million debt financing with GE Capital.  

The secured term loan facility will be used for commercialization of the company's My5-FU™ assay, the first of Saladax's innovative dose management tests commercially available in the European Union (EU) and Australia as a convenient diagnostic kit that measures levels of 5-flourouracil, a widely used chemotherapy drug administered in conjunction with other drugs in therapy for colorectal cancer and other solid tumors.  The funds will also be used for further development of the company's additional assays.

"We are pleased to welcome GE Capital as an investor in the company," said Edward L. Erickson, president and CEO of Saladax.  "This loan facility will enable Saladax to continue developing and commercializing novel diagnostic products to achieve the promise of personalized medicine today."

Peter Gibson, vice president at GE Capital, Healthcare Financial Services – Life Science Finance, said, "Given that drug optimization through dose management has not been prevalent in oncology, we're delighted to invest in Saladax as the company has already achieved tangible results in this area.  We look forward to working with the Saladax as it continues expanding into additional markets worldwide."

About Saladax Biomedical, Inc.

Saladax Biomedical develops and commercializes novel diagnostic assays to achieve the promise of personalized medicine through dose management and companion diagnostic products for existing and new therapeutics.  The Company's dose management technology enables physicians to optimize drug dosing to meet individual patient needs, leading to improved response and quality of life.  The Company's 15 MyCare™ dose management assays are comprised of proprietary, automated and cost-effective in vitro diagnostic tests, with a principal focus in oncology.  The first MyCare assay available is for one of the most common anticancer drugs, 5-fluorouracil (5-FU).  This assay is available in the United States from Myriad Genetics, sold by Saladax in Europe and will be distributed in Japan by FALCO biosystems.  Saladax also works with pharmaceutical companies to develop companion diagnostics to provide important clinical information to assist in developing and administering new and existing compounds.  For more information, visit www.saladax.com.

About GE Capital, Healthcare Financial Services

With over $17 billion invested in more than 40 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry.  Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers.  The Life Science Finance team has worked with more than 500 companies throughout the United States, Canada and Europe.  With a dedicated focus on assisting life science companies large and small, from the first venture round to post-IPO, the team has provided over $2.5 billion in financing to the market.  For more information, visit gecapital.com/healthcare.

Saladax Biomedical, Inc.

Edward L. Erickson
President and Chief Executive Officer
eerickson@saladax.com

Media Contact:
Tiberend Strategic Advisors, Inc.
212-827-0020
Andrew Mielach
amielach@tiberend.com


'/>"/>
SOURCE Saladax Biomedical, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Saladax Biomedicals 5-FU Personalized Chemotherapy Management (PCM(R)) Assay CE Marked for Distribution in the EU
2. Saladax Biomedical, Inc. Announces Pacific Rim Commercialization Team in Australia and China
3. Binder Biomedical, Inc. Announces the Release of the X-GRAFT(TM) Interspinous Device, as Part of Their QUANTUM(TM) Line of Spinal Allograft Devices, Manufactured at the University of Miami Tissue Bank
4. BINDER BIOMEDICAL, INC. Announces Official Launch of the NEWTON™ Intervertebral Body Fusion Spinal Spacer System
5. Dainippon Sumitomo Pharma Co., Ltd. and Boston Biomedical, Inc. Enter Strategic Partnership on Anti-Cancer Drugs Targeting Cancer Stem Cells
6. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
7. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
8. TaiGen Biotechnology Successfully Completes Patient Recruitment for Phase II Trial of Nemonoxacin for Treatment of Adult Community Acquired Pneumonia (CAP)
9. TorreyPines Therapeutics Completes Patient Enrollment in Phase IIb Clinical Trial of Tezampanel for the Treatment of Acute Migraine Headache
10. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
11. QuatRx Completes Patient Enrollment in Phase 3 Study of Ophena(TM) in Women with Postmenopausal Vaginal Syndrome
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... BEIJING , Feb. 5, 2016 ... ("Dehaier Medical" or the "Company"), which develops, markets ... products in China and ... restructuring plan which aims to concentrate the Company,s ... wearable sleep respiratory business and to focus more ...
(Date:2/5/2016)... --> --> ... (Labor & Delivery) and Neonatal Care Equipment Market Ultrasound, ... Phototherapy/Jaundice Management Devices, CPAP, Capnograph, & Resuscitator) - Global ... the global market over the forecast period of 2015 ... Billion in 2015 and is poised to grow at ...
(Date:2/5/2016)... Site Profile: --> Site ... People, announced their latest primary healthcare case study where speech recognition ... and to save the practice money. Site Profile: ... Challenge: --> ,- Wirral CCG ,- VoicePower client since ... Wirral CCG ,- VoicePower client since 2013 Challenge: ...
Breaking Medicine Technology:
(Date:2/5/2016)... ... February 05, 2016 , ... VeloReality President ... next generation LYNX VR Indoor Trainer with multi-rider capability to an enthusiastic audience ... not only reduce the weight of the unit, they also enhance the rider's ...
(Date:2/5/2016)... ... February 05, 2016 , ... ... addition of micro-needling services in their Napa Valley office. The technique utilizes the ... Surgery Associates, Dr. Canales and Dr. Furnas, are part of only a select ...
(Date:2/5/2016)... ... February 05, 2016 , ... US Sports Camps , official ... NH to direct high-performance kids yoga training. ChildLight Yoga Studio is centrally situated in ... from Boston. , ChildLight Yoga Studio founder Lisa Flynn expresses her excitement, “We are ...
(Date:2/5/2016)... ... 05, 2016 , ... Boar’s Head Brand®, one of the nation’s leading providers ... Game. Take the stress out of your party preparation – follow these easy, yet ... stage of the game. , “The key to hosting a successful game-day party is ...
(Date:2/5/2016)... ... February 05, 2016 , ... Dr. Ben Amini, ... it is now welcoming orthodontist, Dr. Amanda Cheng, to the practice. With the ... oral health care, including general dentistry, cosmetic treatments, periodontics, implant dentistry , ...
Breaking Medicine News(10 mins):