Capital One acted as a joint lead arranger for a senior secured credit facility for STEMCELL Technologies, a Canada-based biotechnology and life science company.
The financing consists of a revolving line of credit and a senior term loan.
“Thanks to its array of innovative products, STEMCELL Technologies has grown dramatically over the last decade and become a worldwide leader in life science research,” said David Anderson, managing director, Capital One Healthcare. “We are excited to support their efforts to accelerate the growth of their business.”
Headquartered in Vancouver, STEMCELL Technologies is Canada’s largest biotechnology company, developing specialty cell culture media, cell isolation systems, and accessory products for life science research. It will use the proceeds from the loan to construct a new advanced biologics manufacturing facility, support working capital and expansion needs, and retire existing debt.
“This transaction marks a milestone in our development as a company,” said Jay Dent, STEMCELL Technologies’ CFO. “It will enable us to keep pace with the growing demand for innovative stem cell products, enabling researchers around the world to pursue treatments and cures for some of our most deadly diseases.”
