Rapid Micro Biosystems, a provider of automated, non-destructive, rapid microbial detection, announced the closing of a $16 million term loan facility with Solar Capital and a $3 million revolving credit facility with Comerica Bank.

The financing will provide Rapid Micro Biosystems working capital to support the continued global commercialization of its industry leading technology.

“The successful completion of this credit facility provides us additional flexibility to invest in new opportunities,” said Robert Spignesi, CEO of Rapid Micro Biosystems. “Our capital partnerships with Solar Capital and Comerica enhances our ability to accelerate our global expansion.”

“Rapid Micro Biosystems offers a unique value proposition to the markets they serve,” said Anthony Storino, head of life science lending at Solar Capital. “We are pleased to partner with the organization during a time of rapid growth.”

Lowell, MA-based Rapid Micro Biosystems detects contamination earlier, delivering compelling economic benefits to pharmaceutical, medical device, personal care and contract manufacturers while improving their microbial quality process.