Oxford Finance Corporation Closes $25 Million Credit Facility with EUSA Pharma
ALEXANDRIA, Va., Feb. 4 /PRNewswire/ -- Oxford Finance Corporation today announced that it is the agent and primary lender for a $25 million credit facility provided to EUSA Pharma. MidCap Financial and Silicon Valley Bank are co-lenders in the transaction.
EUSA Pharma is a specialty pharmaceutical company that focuses on oncology, pain control and critical care medicines which it markets predominately in Europe and the United States. The company currently has eight products on the market and several others in late stage development.
"We are pleased to work with Oxford which provided EUSA Pharma with the financial means to leverage its outstanding transatlantic commercial infrastructure," said Bryan Morton, president and chief executive officer of EUSA Pharma.
"EUSA Pharma is a rapidly growing company with an impressive product pipeline," said J. Alden Philbrick, president and chief executive officer of Oxford Finance Corporation. "We are very pleased to provide funds to help them progress with their commercialization efforts and to have the opportunity to expand Oxford's European portfolio."
About Oxford Finance Corporation
Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, is a specialty finance firm providing senior secured loans to public and private life science companies worldwide. For 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 $1 billion in loans, with lines of credit ranging from $500 thousand to $30 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information, visit www.oxfordfinance.com.
About EUSA Pharma
EUSA Pharma is a rapidly growing transatlantic specialty pharmaceutical company focused on in-licensing, developing and marketing late-stage oncology, pain control and critical care products. The company currently has eight marketed products, including Caphosol® for the treatment of oral mucositis, a common and debilitating side-effect of radio therapy and high dose chemotherapy, Erwinase® and Kidrolase® for the treatment of acute lymphoblastic leukemia, Collatamp® G, a surgical implant impregnated with the antibiotic gentamicin, ProstaScint® for imaging the extent and spread of prostate cancer and Quadramet® for the treatment of pain in patients whose cancer has spread to the bones. EUSA also has several products in late-stage development.
Founded in 2006, EUSA Pharma is supported by a consortium of leading life science capital investors, comprising Essex Woodlands, 3i, Goldman Sachs, Advent Venture Partners, SV Life Sciences, TVM Capital, NeoMed and NovaQuest. Since its foundation, the company has raised over $275 million, and completed several significant transactions, including the acquisitions of Cytogen Corporation, Talisker Pharma Limited, the French biopharmaceutical company OPi SA and the European antibiotic and pain control business of Innocoll Pharmaceuticals Inc. Key to its rapid growth strategy is the company's established commercial infrastructure in the US, pan-European presence covering over 20 countries and wider distribution network in a further 25 territories. EUSA Pharma plans to continue its aggressive program of acquisitions and in-licensing, in line with its ambitious target to become the leading specialty company in its areas of therapeutic and geographic focus. For more information please visit www.eusapharma.com.
SOURCE Oxford Finance Corporation