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Halozyme Secures Additional $20 Million Term Loan from Oxford Finance and Silicon Valley Bank

01/06/2014
Halozyme Therapeutics, Inc. (NASDAQ: HALO) today announced it secured an additional $20 million loan from Oxford Finance and Silicon Valley Bank.  On December 27, 2013, Halozyme entered into an Amended and Restated Loan and Security Agreement, extending the original $30 million term loan and providing for an additional $20 million term loan, bringing the total loan balance to $50 million.  The term loan was fully drawn at close on December 27, 2013 and has a maturity date of January 1, 2018.  The proceeds will be used for working capital and other near-term growth initiatives.  Additional details of the credit facility are outlined in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 3, 2014.  As of December 31, 2013, Halozyme had approximately $71 million in cash and cash equivalents.

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