Cytori Therapeutics (NASDAQ: CYTX) entered into a $20 million secured loan facility from GE Capital, Healthcare Financial Services, Oxford Finance Corporation, and Silicon Valley Bank. The loan funded June 14, 2010.
The funds will be used to support Cytori's commercialization and clinical development activities in Europe, Asia and the United States. The loan, along with the $30 million raised from the recently completed Seaside 88, LP financing, strengthens Cytori's cash position. The Company anticipates that these amounts will fund the Company's operations into 2012.
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The funds will be used to support Cytori's commercialization and clinical development activities in Europe, Asia and the United States. The loan, along with the $30 million raised from the recently completed Seaside 88, LP financing, strengthens Cytori's cash position. The Company anticipates that these amounts will fund the Company's operations into 2012.
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