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From here: http://www.businesswire.com/portal/s...86&newsLang=en
AMBRIDGE, Mass.--(BUSINESS WIRE)--Helicos BioSciences Corporation (NASDAQ: HLCS) announced today that it has closed a $20 million senior secured credit facility with GE Healthcare Financial Services. The Company will use the credit facility to support working capital and commercialization efforts. Helicos received $10 million under the new credit facility on December 31, 2007, and has the ability to draw down the remaining $10 million by June 30, 2008. The initial $10 million will be amortized over 36 months with interest-only payments for the first 12 months. No warrants are associated with the deal.
“We have had a relationship with GE Financial Services since 2006 and this additional loan will provide flexibility as we scale up our manufacturing and build inventory to meet customer demand in 2008 and beyond. We are delighted to be able to continue working with GE,” said Steve Lombardi, President and Chief Operating Officer of Helicos.
“Our understanding of the life sciences industry, and the key role companies like Helicos play in driving innovation in genetic analysis, has enabled us to create a unique financing solution to support their growth strategy,” said Anthony Storino, Senior Managing Director, GE Healthcare Financial Services' life science finance group.
For almost two decades, the life science finance team of GE Healthcare Financial Services has worked with more than 500 companies throughout the United States, Canada and Europe. With a dedicated focus on assisting life science companies large and small, from the first venture round to post-IPO, the team has provided over $2.5 billion in financing to the market.
About Helicos BioSciences
HelicosTM BioSciences is a life science company focused on innovative genetic analysis technologies for the research, drug discovery, and diagnostic markets. Helicos’ proprietary True Single Molecule Sequencing, tSMSTM, technology allows direct measurement of billions of strands of DNA enabling scientists to perform experiments and ask questions never before possible. Helicos is a recipient of an NIH $1,000 Genome grant and committed to providing scientists the tools to unlock the era of genomic medicine. The company’s corporate headquarters are located at One Kendall Square, Building 700, Cambridge, MA 02139, and its telephone number is (617) 264-1800. For more information, please visit www.helicosbio.com
About GE Healthcare Financial Services
GE Healthcare Financial Services is the premier provider of capital, financial solutions, and related services for the global healthcare market. With over $17 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending, vendor programs, and acquisition financing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
“We have had a relationship with GE Financial Services since 2006 and this additional loan will provide flexibility as we scale up our manufacturing and build inventory to meet customer demand in 2008 and beyond. We are delighted to be able to continue working with GE,” said Steve Lombardi, President and Chief Operating Officer of Helicos.
“Our understanding of the life sciences industry, and the key role companies like Helicos play in driving innovation in genetic analysis, has enabled us to create a unique financing solution to support their growth strategy,” said Anthony Storino, Senior Managing Director, GE Healthcare Financial Services' life science finance group.
For almost two decades, the life science finance team of GE Healthcare Financial Services has worked with more than 500 companies throughout the United States, Canada and Europe. With a dedicated focus on assisting life science companies large and small, from the first venture round to post-IPO, the team has provided over $2.5 billion in financing to the market.
About Helicos BioSciences
HelicosTM BioSciences is a life science company focused on innovative genetic analysis technologies for the research, drug discovery, and diagnostic markets. Helicos’ proprietary True Single Molecule Sequencing, tSMSTM, technology allows direct measurement of billions of strands of DNA enabling scientists to perform experiments and ask questions never before possible. Helicos is a recipient of an NIH $1,000 Genome grant and committed to providing scientists the tools to unlock the era of genomic medicine. The company’s corporate headquarters are located at One Kendall Square, Building 700, Cambridge, MA 02139, and its telephone number is (617) 264-1800. For more information, please visit www.helicosbio.com
About GE Healthcare Financial Services
GE Healthcare Financial Services is the premier provider of capital, financial solutions, and related services for the global healthcare market. With over $17 billion in assets, GE Healthcare Financial Services offers a full range of financing capabilities from equipment leasing and real estate financing to working capital lending, vendor programs, and acquisition financing. With a dedicated focus and a deep knowledge of the healthcare industry, GE Healthcare Financial Services collaborates with customers to create tailored financial solutions that help them improve their productivity and profitability. For more information, visit www.gehealthcarefinance.com.
From here: http://www.businesswire.com/portal/s...86&newsLang=en