Tandem Diabetes Care has amended its term loan facility with Capital Royalty Partners II and its affiliate funds (CRG), which will provide the company access to $50 million in addition to the $30 million borrowed from CRG in January 2013. Under the terms of the amended agreement, Tandem is required to draw $15 million in January 2016 and has a one-time option to access up to an additional $35 million on or before December 31, 2016. The interest rate, interest only payment period and maturity date under the loan facility were unchanged by the amendment.

“With our 2015 accomplishment of approximately $73 million in sales, and continued anticipated growth of at least 40% in 2016, our arrangement with CRG provides us flexibility to best support the needs of our rapidly growing business,” said Kim Blickenstaff, Tandem’s president and chief executive officer. “We will continue to invest in advancing our growth through research and development and commercialization efforts, as well as in the expansion of our manufacturing capacity, to continue delivering innovative products to improve the lives of people with diabetes.”

As of December 31, 2015, the company had approximately $73 million in cash, cash equivalents and short-term investments, compared to approximately $84 million at September 30, 2015. The company’s estimated sales for 2015, and its estimated cash, cash equivalents and short-term investments as of December 31, 2015 are preliminary and subject to adjustment.

San Diego-based Tandem Diabetes Care is a medical device company that designs, develops products for people with diabetes who use insulin.

Founded in 2003, Boulder,CO-based CRG, previously known as Capital Royalty, is a healthcare-focused investment firm with approximately $2 billion of assets under management that provides capital to healthcare companies primarily through structured debt and senior secured loans.