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Square 1 Bank Provides Credit Facility to Protein Technologies, Inc.

July 23, 2015, 07:27 AM
Filed Under: Medical

Square 1 Bank provided a credit facility to new client Protein Technologies, Inc., a leading provider of peptide synthesis instruments. Proceeds from the facility combined with an equity investment from Ampersand Capital Partners will be used to expand operations and meet increased global demand.

Peptides are naturally occurring molecules that direct cellular function within the human body. Synthetic peptides are being developed to treat patients suffering from illnesses such as cancer and metabolic diseases. Advances in the development of complex peptides with better efficacy and bioavailability profiles are driving significant increases in peptide-focused R&D spending worldwide.

"Protein Technologies' has a longstanding history of providing high quality instruments to the peptide research community, exemplified by the newly launched Prelude® X peptide synthesizer with rapid heating," said Nate Cosper, president and chief executive officer of Protein Technologies. "This partnership with Square 1 will further enable the company to develop innovative new products and enhance the level of service we provide to our global customer base."

Scott Foote, senior vice president in Square 1's life sciences practice added, "We are pleased to provide financing to support Protein Technologies' ability to develop new technologies as the company continues to solidify its position as a market leader in the peptide industry. We look forward to building our new partnership with Protein Technologies while also expanding our relationship with key investor Ampersand Capital Partners."

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.

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