Daily News: December 16, 2014

GE Capital Agents Rapid Micro Biosystems Facility

GE Capital, Healthcare Financial Services announced it agented a senior secured credit facility of up to $19 million for Rapid Micro Biosystems. The company provides innovative products for faster detection of microbial contamination in the manufacture of pharmaceutical, biotechnology, and personal care products. The financing, comprised of a revolving credit facility and two term loan facilities, will provide working capital as the company ramps up the commercialization of its products.

Rapid Micro Biosystems’ Growth Direct System consists of an automated imaging instrument that analyzes user-prepared proprietary consumables. The system and consumables were designed to optimize test performance and ease-of-use. The company is based in Lowell, MA.

“We value GE Capital’s deep expertise in healthcare and thorough understanding of the process for bringing sophisticated life sciences products to market,” said Robert Spignesi, CEO of Rapid Micro Biosystems. “We are pleased to have a knowledgeable and reliable financial partner funding our day-to-day capital needs during this critical period in our development.”

“Our life sciences team specializes in capital-efficient structures for promising venture capital-backed companies as they begin to commercialize their products,” said Brett Haring, senior managing director of GE Capital, Healthcare Financial Services, Life Science Finance business.