Friday, October 17, 2008
Cytori Gets $15M Loan
San Diego-based Cytori Therapeutics disclosed earlier this week that it has scored a $15M loan facility from GE Healthcare Financial Services and Silicon Valley Bank. The firm, which develops products for the regenerative medicine market, said that the loan facility is made up for a term loan of $7.5M, plus the option to exercise an additional $7.5M term loan before December 12th. The firm said the funding will go towards commercialization of Cytori's Celution and StemSource products, along with product pipeline development and general corporate activities.