ALEXANDRIA, Va. and WESTMINSTER, Colo., April 19, 2017 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), an industry-leading specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $20 million senior secured term loan with Cerapedics Inc. ("Cerapedics") a privately-held orthobiologics company engaged in the development and commercialization of bone graft substitute products for the treatment of orthopedic injuries.
Cerapedics' lead product, i-FACTOR Peptide Enhanced Bone Graft, is the only biologic bone graft that uses a unique small peptide attachment factor (P-15) bound to anorganic bone mineral (ABM). The i-FACTOR is the first and only FDA-approved product for Anterior Cervical Discectomy and Fusion (ACDF) and is the first device to demonstrate superiority versus autograft.
Loan proceeds are being used to support the ongoing commercialization of i-FACTOR's use in cervical spine procedures and help fund a FDA study on its application in Transforaminal Lumbar Interbody Fusion (TLIF.)
"We are encouraged by the strength of i-FACTOR's clinical safety and efficacy data," said Christopher A. Herr, senior managing director at Oxford Finance. "Oxford is pleased to provide capital to help Cerapedics continue to enhance the science of bone repair."
"We are pleased to be working with a strong partner in Oxford Finance in executing on our key growth initiatives," said Glen Kashuba, chief executive officer of Cerapedics.
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. Oxford has originated over $4 billion in loans, with credit facilities ranging from $5 million to $100 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in San Diego, California; Palo Alto, California; Salt Lake City, Utah and the greater Boston area. For more information, visit oxfordfinance.com.
About Cerapedics Inc.
Cerapedics is an orthobiologics company focused on developing and commercializing its proprietary synthetic small peptide (P-15) technology platform. i-FACTOR Peptide Enhanced Bone Graft is the only biologic bone graft in orthopedics that incorporates a small peptide as an attachment factor to stimulate the natural bone healing process. This novel mechanism of action is designed to support safer and more predictable bone formation compared to commercially available bone growth factors. More information can be found at cerapedics.com.
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SOURCE Oxford Finance Corporation