Rapid Micro Biosystems Completes $19 Million Senior Credit Facilities
(Thomson Reuters ONE) -
LOWELL, Mass., July 08, 2015 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, a
leading provider of automated, non-destructive, rapid microbial detection, today
announced the closing of its $16 million term loan facility with Solar Capital
and $3 million revolving credit facility with Comerica Bank. The financing will
provide Rapid Micro Biosystems working capital to support the continued global
commercialization of its industry leading technology.
Rapid Micro Biosystems' Growth Direct(TM) System detects contamination earlier,
delivering compelling economic benefits to pharmaceutical, medical device,
personal care and contract manufacturers while improving their microbial quality
process. In use by some of the largest companies in the industry, the Growth
Direct System is the first and only automated technology that addresses all key
microbial quality control applications and fits with current regulatory
practices, a critical accelerator for adoption.
"The successful completion of this credit facility provides us additional
flexibility to invest in new opportunities," said Robert Spignesi, CEO of Rapid
Micro Biosystems. "Our capital partnerships with Solar Capital and Comerica
enhances our ability to accelerate our global expansion."
"Rapid Micro Biosystems offers a unique value proposition to the markets they
serve," said Anthony Storino, head of life science lending at Solar Capital.
"We are pleased to partner with the organization during a time of rapid growth."
About Rapid Micro Biosystems
Rapid Micro Biosystems delivers the Growth Direct(TM) System, an automated, non-
destructive rapid detection and enumeration technology based on the compendial
method for microbial quality control in pharmaceutical manufacturing. The
system automates and accelerates detection and enumeration in the areas of
sterility testing, environmental monitoring, and bioburden testing, eliminating
manual steps and analysis. The detection technology, first developed and
patented by Dr. Don Straus, Ph.D., uses the natural auto-fluorescence of
microbes and requires no reagents. For more information about Rapid Micro
Biosystems visit www.rapidmicrobio.com
About Solar Capital
Solar Capital Partners, the investment advisor to Solar Capital Ltd., Solar
Senior Capital Ltd. and other affiliated funds, primarily invests in leveraged,
middle market companies in the form of senior secured loans, unitranche loans,
mezzanine loans, and equity securities. As of March 31, 2015, Solar Capital
Partners has invested approximately $4.7 billion in more than 190 different
portfolio companies since it was founded in 2006 and has completed transactions
with more than 120 different financial sponsors and venture capital firms.
Solar Capital's life science lending segment provides financing solutions for
bio-pharma, medical device, healthcare IT and healthcare services companies,
both venture-backed private and public, and from pre-revenue clinical to early
commercial stage.
About Comerica Bank
About Comerica Bank's Technology and Life Sciences Division
Comerica Bank's Technology and Life Sciences Division is one of the nation's
leading technology banking practices, offering a wide range of financial
services tailored to corporate customers, entrepreneurs and professionals.
Veteran bankers provide credit and financial services and products to young,
growing, professionally backed technology and life sciences companies, as well
as their more mature counterparts. The Technology and Life Sciences Division
serves all major U.S. technology centers from offices coast-to-coast and its
headquarters in Palo Alto, California as an office in Toronto, Canada. Comerica
Bank is a subsidiary of Comerica Incorporated (NYSE:CMA), a financial services
company that is among the 25 largest U.S. banking companies. Comerica reported
total assets of $69.3 billion at March 31, 2015. For more information,
visit www.comerica.com.
Contact:
Mark Severns
Rapid Micro Biosystems
978-349-3200
mseverns(at)rapidmicrobio.com
Richard Pivirotto
Solar Capital
212-994-8543
pivirotto(at)solarcapltd.com
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Rapid Micro Biosystems via GlobeNewswire
[HUG#1935542]
Datum: 08.07.2015 - 16:00 Uhr
Sprache: Deutsch
News-ID 405554
Anzahl Zeichen: 5151
contact information:
Town:
Lowell, MA
Kategorie:
Business News
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