Facebook Twitter LinkedIn Google Plus RSS

Celsion announces up to $20M strategic loan facility

By ,

Lawrenceville-based pharmaceutical company Celsion Corp. announced today it has entered into a loan agreement with Hercules Technology Growth Capital Inc. that would permit up to $20 million in new capital distributable in multiple tranches with agreement from Hercules.

According to the announcement, Celsion drew the first tranche of $5 million upon closing of the loan agreement Monday. Approximately $4 million of the proceeds were used to repay the outstanding obligations under the Company's loan agreement with Oxford Finance LLC and Horizon Technology Finance Corporation. The company anticipates it would use any additional funding provided under the agreement for working capital or in support of its previously announced strategic acquisition initiative, which is designed to identify new technologies and clinical stage products for its development pipeline.

More Celsion news >


More From This Industry

Write to the Editorial Department at editorial@njbiz.com

Related Stories

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy