Oxford Finance Closes $15 Million Credit Facility with Vedanta Biosciences, Inc.
ALEXANDRIA, Va. and CAMBRIDGE, Mass., Sept. 16, 2020 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, has announced the closing of a $15 million senior secured term loan with Vedanta Biosciences, Inc. ("Vedanta" or "the Company"), a clinical-stage biopharmaceutical company developing a new category of therapies for immune-mediated diseases based on defined bacterial consortia. The funds will be used for general working capital and to advance the development pipeline.
The human microbiome is increasingly recognized as a key factor in the development and regulation of the immune system and protection from infectious diseases. Vedanta designs medicines based on consortia of human commensal bacteria to treat disease, using insights from microbial ecology, mucosal immunology, and human interventional studies. Vedanta's breakthrough science has led to the creation of a unique platform to develop defined consortia manufactured from pure, clonal strains, eliminating the need to source donor material.
"Vedanta's scientists have contributed foundational discoveries to the microbiome field," said Christopher A. Herr, senior managing director at Oxford Finance. "Oxford is pleased to provide the funds to support the Company's differentiated approach, which eliminates the need for donor material and eliminates the risk of passing pathogens to patients."
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 $6 billion in loans, with lines of credit ranging from $5 million to $150 million. Oxford is headquartered in Alexandria, Va., with additional offices in San Diego, Calif.; Palo Alto, Calif.; and the greater Boston and New York City areas. For more information, visit https://oxfordfinance.com/
About Vedanta Biosciences
Vedanta Biosciences is leading the development of a new category of oral therapies based on rationally defined consortia of bacteria derived from the human microbiome. The company's clinical-stage pipeline includes product candidates being evaluated for the treatment of high-risk C. difficile infection, inflammatory bowel diseases, advanced or metastatic cancers, and food allergy. These investigational therapies are grounded in pioneering research – published in leading journals including Science, Nature, and Cell – to identify beneficial bacteria that live symbiotically within the healthy human gut, fight pathogens and induce a range of potent immune responses. Vedanta Biosciences controls a foundational portfolio of more than 40 patents and has built what is believed to be the world's biggest library of bacteria derived from the human microbiome. Proprietary capabilities include deep expertise in consortium design, vast datasets from human interventional studies and cGMP-compliant manufacturing of oral live biotherapeutics containing pure, clonally derived bacterial consortia in powdered form. Vedanta Biosciences was founded by PureTech Health (LSE: PRTC) and a global team of scientific co-founders who pioneered Vedanta's modern understanding of the cross-talk between the microbiome and the immune system.
Media Contacts
Selma Bašić
Oxford Finance LLC
703-519-4900 Tel
[email protected]
SOURCE Oxford Finance LLC
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