FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Capital One Arranges Senior Secured Credit Facility for Canadian Biotechnology Company

August 20, 2019, 08:50 AM
Filed Under: Biotechnology
Related: Capital One

Capital One announced today that it acted as a joint lead arranger for a senior secured credit facility for STEMCELL Technologies, a Canada-based biotechnology and life science company. The financing consists of a revolving line of credit and a senior term loan.

“Thanks to its array of innovative products, STEMCELL Technologies has grown dramatically over the last decade and become a worldwide leader in life science research,” said David Anderson, Managing Director, Capital One Healthcare. “We are excited to support their efforts to accelerate the growth of their business.”

Headquartered in Vancouver, STEMCELL Technologies is Canada’s largest biotechnology company, developing specialty cell culture media, cell isolation systems, and accessory products for life science research. It will use the proceeds from the loan to construct a new advanced biologics manufacturing facility, support working capital and expansion needs, and retire existing debt.

“This transaction marks a milestone in our development as a company,” said Jay Dent, STEMCELL Technologies’ CFO. “It will enable us to keep pace with the growing demand for innovative stem cell products, enabling researchers around the world to pursue treatments and cures for some of our most deadly diseases.”

Capital One Healthcare is a leading provider of financial services to the industry. Customers across healthcare sectors—including senior housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices—rely on Capital One Healthcare to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives. With in-depth expertise, our team of professionals creates solutions tailored to meet the needs of our customers.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.