ALEXANDRIA, Va., April 30, 2015 /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 $10 million senior secured term loan agreement with Celula, Inc., a diagnostic testing company focused on improving the accuracy of diagnosing major diseases, enabling better patient care and improved outcomes. Proceeds of the loan will be used to continue the development and expand the commercialization of its products in the U.S. and China.
"Celula has a seasoned management team that has developed a novel platform technology for diagnostic testing services," said Christopher A. Herr, senior managing director for Oxford Finance. "We are glad to provide debt financing to Celula to support the growth of the company and the expansion of its product line."
"We are pleased to be working with Oxford Finance as a capital partner," said Dr. Drew Senyei, chairman and chief executive officer of Celula. "Oxford understood our needs and provided a well structured debt facility that fit Celula's business plan. We are looking forward to further developing and bringing our technology and unique approach to the diagnostic market to improve patient care."
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 $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.
About Celula, Inc.
Celula is a diagnostic testing services company focused on significantly improving the accuracy of diagnosing major diseases, enabling better patient care and improved outcomes. Celula's unique cost effective "Integrated Diagnostic Accuracy" platform (IDA) consists of algorithmically combining proprietary technologies and non-proprietary technologies that together achieve significantly greater accuracy compared to current tests. The company's initial products will focus on improving the diagnostic accuracy of major women's diseases, specifically in gynecologic cancers and non-invasive prenatal diagnosis. Celula has an established infrastructure in both the U.S. and China allowing it to develop new products in a significantly more capital efficient manner as well as expand its commercial opportunities beyond the U.S. For more information visit www.celula-inc.com.
SOURCE Oxford Finance LLC