Singulex Announces $50 Million Senior Secured Debt Facility with Perceptive Advisors
ALAMEDA, Calif., April 17, 2017 /PRNewswire/ -- Singulex, Inc., the creator of Single Molecule Counting immunodiagnostic technology, announced the closing of a $50 million senior-secured debt facility with Perceptive Advisors. The capital secured will fuel the continued growth of Singulex and its industry-changing Single Molecule Counting platform, which delivers unprecedented ultra-sensitivity and utility to some of the most prevalent and costly diseases.
"Entering into this $50 million debt facility with one of the leading life sciences-focused investment partners is another important validation of our proprietary technology platform and our vision to redefine what is possible in immunodiagnostics," said Guido Baechler, president and chief executive officer, Singulex. "The investment will help fuel our continued growth and innovation pipeline, including greater access of our Single Molecule Counting technology via our Sgx Clarity® system and point of care platform."
Singulex's Single Molecule Counting technology provides immunodiagnostic assays that are up to 1,000 times more sensitive than those on other testing platforms, enabling unprecedented confidence in medical decisions. This proprietary technology powers next generation immunodiagnostics delivered through the Sgx Clarity system, a fully-automated in vitro diagnostics platform that will bring the power and benefits of Single Molecule Counting to hospitals and reference labs worldwide. The system is currently undergoing market evaluation in Europe and the United States and is not yet available for sale.
"Perceptive Advisors is pleased to partner with Singulex in their journey to advance understanding and enable immediate action to identify and treat a range of disease," Sam Chawla, Portfolio Manager at Perceptive Advisors. "The Company has a proven record of results and partnerships with leading health and life science innovators. We look forward to sharing in future growth and success."
Cantor Fitzgerald & Co. acted as exclusive financial advisor and sole placement agent to Singulex in this transaction.
About Singulex, Inc.
Singulex is the revolutionary immunodiagnostics company focused on delivering ultra-sensitive diagnostics and absolute certainty to deliver the BioRemarkable power to rule out disease. Singulex's proprietary Single Molecule Counting technology detects biomarkers of disease that were previously undetectable to give physicians and scientists unprecedented insight into health status and the ability to identify the presence—and absence—of disease. For more information, please visit www.singulex.com.
About Perceptive Advisors
Founded in 1999 and based in New York, NY, Perceptive Advisors is an investment management firm focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. For more information about Perceptive, visit www.perceptivelife.com.
About Cantor Fitzgerald & Co.
Cantor Fitzgerald & Co., a leading global financial services group at the forefront of financial and technological innovation has been a proven and resilient leader for over 65 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 7,000 institutional clients around the world, recognized for its strengths in fixed income and equity capital markets, investment banking, prime brokerage, and commercial real estate finance and for its global distribution platform. Cantor Fitzgerald & Co. is one of 23 primary dealers authorized to trade U.S. government securities with The Federal Reserve Bank of New York. For more information please visit www.cantor.com.
SOURCE Singulex, Inc.
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