Oxford Finance and Silicon Valley Bank Provide $30 Million Senior Credit Facility to Halozyme Therapeutics
ALEXANDRIA, Va., Jan. 15, 2013 /PRNewswire/ -- On December 28, 2012, Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, closed a $30 million round of debt financing for Halozyme Therapeutics, Inc. (Halozyme). Silicon Valley Bank also participated in this transaction.
"Oxford is very pleased to provide Halozyme capital to support its unique and innovative portfolio of products that addresses therapeutic areas, including diabetes, oncology and dermatology," said Christopher A. Herr, managing director for Oxford Finance. "In addition to having an impressive and proven technology, Halozyme has a management team with a great deal of expertise developing and commercializing products that advance patient care."
"Working with companies like Halozyme that are innovating the patient experience in areas like oncology and diabetes is particularly rewarding," said Michael White, senior relationship manager for Silicon Valley Bank's San Diego office. "Our life science team is looking forward to continuing our long and productive relationship with the Halozyme team, offering the financing, flexibility and support the company needs to continue to develop its products."
"We are pleased to be working with both Oxford and Silicon Valley Bank," said Kurt Gustafson, chief financial officer of Halozyme Therapeutics. "This new line of credit gives us access to additional capital that will help us advance the development and commercialization of our novel proprietary therapeutics."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 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 nearly $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life sciences, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com.
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 System. SVB Financial Group is also a member of the Federal Reserve System.
SOURCE Oxford Finance LLC