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Square 1 Bank Provides Credit Facility to Advanced Liquid Logic

May 23, 2013, 07:03 AM
Filed Under: Life Sciences

Square 1 Bank provided a term loan and revolving line of credit to new client Advanced Liquid Logic, Inc., a life science technology company providing unique workflow solutions to laboratories and clinics. Proceeds will aid Advanced Liquid Logic in future growth and product development.

Since its founding in 2004, Advanced Liquid Logic has assembled an impressive patent portfolio and today owns or controls over 100 issued patents in Digital Microfluidics technology. In addition, techniques for cost-effectively manufacturing its lab-on-a-chip have been developed and implemented. A strong pipeline of products and partnerships will ensure rapid revenue and profit growth.

“We look forward to building a dynamic and lasting relationship with Advanced Liquid Logic,” said Evan Travis, Assistant Vice President in Square 1’s Southeast Life Sciences practice. “We are very impressed with the company’s product line and the promising opportunities they have in the life science technologies industry.”

President and CEO of Advanced Liquid Logic, Richard West, added, “We are pleased that Square 1 will play an integral part in our plans for the future. It is a privilege to have such a great bank headquartered locally in Durham.”

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs.

Advanced Liquid Logic is pioneering the next generation of microfluidics – Digital Microfluidics – with easy-to-use, cost-effective products in newborn screening and genomics sample preparation. Advanced Liquid Logic, a rapidly growing, privately-held company, also has products in development addressing in vitro diagnostics and other markets.

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