eBioscience Receives $55M in Debt Financing

eBioscience, Inc., a San Diego, CA-based manufacturer and distributor of reagents, key substances used in pharmaceutical research to detect, measure, and examine other substances in chemical and biological reactions, has received $55m in senior secured credit facilities from GE Capital, Healthcare Financial Services.

The facilities, which include a $45m term loan and a $10m revolving line of credit, will be used to finance the company’s repurchase of certain shares from early investors, refinance existing debt, and provide growth capital. 

Led by CEO Don Tartre, eBioscience provides innovative, high-quality reagents to researchers worldwide empowering the process of scientific discovery in the areas of immunology and oncology.

“GE’s pharma team has demonstrated a keen understanding of our business, and GE certainly provides the expertise and financial capacity to support our growth capital needs for years to come”. Tartre said.

14/02/2011