Square 1 Bank, a division of Pacific Western Bank, provided a $5 million credit facility to new client Argonaut Manufacturing Services, a contract manufacturer for biotech companies. Proceeds from the facility will support capital expenditures associated with the company’s recent expansion.

Headquartered in Carlsbad, CA, Argonaut provides contract manufacturing for suppliers of molecular diagnostic and life science reagents and consumables.

“With business expanding and the opportunity to offer more services to our clients, Square 1 was our top choice for support,” said Wayne Woodard, CEO of Argonaut MS. “Square 1 definitely demonstrated their experience in helping life sciences entrepreneurs. They took the time to understand our business and long-term strategy, and then delivered exactly what we needed.”

“Argonaut’s leadership team has more than 100 years of operational experience, so they are well equipped to address most any supply chain challenge,” added Rilus Graham, senior vice president in Square 1’s Life Sciences practice.