GE Capital Closes $7.5MM Facility for Trimel Pharmaceuticals
GE Capital, Healthcare Financial Services said that it was sole lender and administrative agent on a $7.5 million senior secured term loan facility for Trimel Pharmaceuticals. The financing will be used for working capital to support ongoing clinical development.
Based in Ontario, Canada, Trimel Pharmaceuticals is a specialty pharmaceutical company actively developing medications for men’s health, female sexual health and various respiratory disorders. The company holds the development and marketing rights to a bioadhesive intranasal gel drug delivery technology platform and owns a novel dry powder drug delivery technology platform. They are actively pursuing the development and application of these technologies to products that are currently in Phase II and Phase III clinical testing.
“The financing provided by GE Capital is important to our organization because it supports our ability to develop and test innovative new products,” said Kenneth Howling, CFO for Trimel Pharmaceuticals. “GE Capital understands the unique dynamics of our industry and worked closely with us to structure a financing solution to meet our needs.”
“Life science companies value having a lender dedicated to their industry who knows the unique dynamics impacting their success,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “With our industry knowledge and strong balance sheet, we deliver flexible and reliable loans to customers.”
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