Oxford Finance and Solar Capital Close $30 Million Senior Debt Facility with Radius Health
ALEXANDRIA, Va., July 1, 2014 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $30 million senior secured term loan agreement with Radius Health, Inc. ("Radius Health"). The financing was provided to Radius Health from both Oxford and Solar Capital Ltd. ("Solar Capital"). Proceeds of the loan will be used for working capital and to advance the development of Radius Health's lead candidate, abaloparatide, along with other products.
"Oxford is pleased, once again, to provide financing to Radius Health," said Christopher A. Herr, managing director for Oxford Finance. "We continue to be impressed with the company's extensive pipeline of promising programs and its management team, which has a great deal of experience in drug development and commercialization."
"We are happy to lead this new financing, which allows Radius Health to continue advancing their strong product pipeline," said Anthony Storino, head of healthcare venture lending at Solar Capital. "We look forward to supporting the company's continued progress in the therapeutics space."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina. For more information visit www.oxfordfinance.com.
About Solar Capital Ltd.
Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Solar Capital Ltd. and its predecessor companies have invested approximately $3.4 billion in over 105 portfolio companies with more than 80 different financial sponsors. The company primarily invests in leveraged, small to middle market companies in the form of senior secured loans, mezzanine loans, and equity securities. Solar Capital Ltd.'s healthcare segment provides financing solutions for bio-pharma, medical device, healthcare IT, and healthcare services companies, both venture backed private and public, and from pre-revenue clinical to early commercial stage.
SOURCE Oxford Finance LLC