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 $5 million expansion to an existing $10 million senior secured term loan agreement with Edgemont Pharamaceuticals, LLC, a company that develops drug formulations and therapies in the field of psychiatry. The additional funds will be used primarily for working and growth capital.
"Oxford is pleased to provide additional finacing to Edgemont Pharmaceuticals," said Christopher A. Herr, senior managing director for Oxford Finance. "The company has been successful with both of its commercial assets, Forfivo XL® and Fluoxetine 60mg tablets, and has been making significant progress with its clinical program."
"We are extremely grateful to Oxford for its ongoing support of our growth initiatives and appreciate the additional working capital they are providing us through this loan expansion," said Douglas A. Saltel, chief executive officer of Edgemont Pharmaceuticals. "Oxford is clearly proving to be a great business partner."
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 Edgemont Pharmaceuticals, LLC
Edgemont Pharmaceuticals, LLC is a privately held specialty pharmaceutical company focused in the field of psychiatry. Edgemont has two FDA approved antidepressant products commercialized in the US and a Phase III product candidate being developed for Generalized Anxiety Disorder. Edgemont is located in Austin, Texas. For more information visit www.edgemontpharma.com.
SOURCE Oxford Finance LLC