Oxford Finance Closes $4 Million Debt Facility with IntelliCyt
Oxford Finance announced the closing of a $4 million debt facility consisting of a $2.5 million senior secured term loan agreement and a $1.5 million revolving line of credit with IntelliCyt. Proceeds of the loan will be used for working capital and to support the company’s product development and marketing initiatives.
“Oxford is pleased to provide financing to accelerate IntelliCyt’s growth,” said Christopher A. Herr, managing director for Oxford Finance. “IntelliCyt’s experienced management team has created a capital-efficient business that offers an innovative suite of cell and bead-based screening solutions for its clients.”
IntelliCyt develops cell- and bead-based screening solutions for use in phenotypic drug discovery, antibody discovery and in vitro toxicity testing.