Daily News: May 13, 2014

GE Capital, HFS Provides Term Loan to Cerapedics

GE Capital’s Healthcare Financial Services business has provided a $9 million term loan to Cerapedics, a privately-held medical device company based in Westminster, CO. The funds will be used to support Cerapedics’ general business operations, including the advancement of its U.S. regulatory process.

Cerapedics is an orthobiologics company focused on developing and commercializing its proprietary synthetic small peptide (P-15) technology platform. i-FACTOR bone graft is the only biologic bone graft that incorporates a small peptide as an attachment factor to stimulate the natural bone healing process. This mechanism is designed to support safer and more predictable bone formation at a lower cost compared to commercially available bone growth factors.

“Working with a lender that specializes in the healthcare industry was a great experience,” said Glen Kashuba, Cerapedics’ CEO. “The GE Capital deal team invested significant time up-front, asking thoughtful questions to understand our key business drivers, and then structured a credit facility that aligned well with our objectives.”

“We’re impressed with Cerapedics’ management, investors and growth trajectory, and we’re pleased to support the company’s efforts during this pivotal stage of its development,” said Joe Hammer, senior vice president, life sciences with GE Capital. “We’re proud to support entrepreneurs who are on the forefront of medical therapies in the U.S.”