Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $2.5 million senior secured term loan agreement and a $1.5 million revolving line of credit with IntelliCyt Corporation (“IntelliCyt”). Proceeds of the loan will be used for working capital and to support the company’s product development and marketing initiatives.
“Oxford is pleased to provide financing to accelerate IntelliCyt’s growth,” said Christopher A. Herr, managing director for Oxford Finance. “IntelliCyt’s experienced management team has created a capital-efficient business that offers an innovative suite of cell and bead-based screening solutions for its clients.”
“Oxford has provided a flexible financing package that will support our working capital needs and commercial expansion as we continue our rapid revenue growth,” commented Dennis Hynson, chief financial officer for IntelliCyt.