BETHESDA, Md.--(BUSINESS WIRE)--GE Capital, Healthcare Financial Services, as agent, announced today that it closed a $6.25 million tranche of a $25 million senior secured multi-draw term loan to Radius Health, Inc. ("Radius"). The financing provides Radius with working capital to support a Phase 3 human clinical trial of an osteoporosis drug.
Radius is a Cambridge, MA-based company focused on the acquisition and development of a new generation of drug therapies for osteoporosis and women's health. The company's first drug in clinical trials is designed to build new bone in patients with osteoporosis, with the goal of reducing the risk of fractures and improving patient outcomes.
"When looking for financing, we wanted a lender with meaningful experience in our business," said Nick Harvey, chief financial officer of Radius. "GE Capital, Healthcare Financial Services had the expertise to create a financing structure that meets our needs."
"We are pleased to provide financing to Radius to help them conduct the pivotal Phase 3 trial of their osteoporosis drug," said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. "We're providing Radius with a customized financing solution that will give them more flexibility as they work toward the next breakthrough in osteoporosis."
About GE Capital, Healthcare Financial Services
With over $17 billion invested in more than 30 sub-sectors including senior housing, hospitals, pharmaceuticals, and medical devices, GE Capital, Healthcare Financial Services is a premier provider of capital and services to the healthcare industry. Our team of professionals provides deep industry expertise to create business and financial solutions tailored to meet the individual needs of our customers. The Life Science Finance team has worked with more than 500 companies throughout the United States, Canada and Europe. With a dedicated focus on assisting life science companies large and small, from the first venture round to post-IPO, the team has provided over $2.5 billion in financing to the market. For more information, visit gecapital.com/healthcare.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE: GE) is an advanced technology, services and finance company taking on the world's toughest challenges. For more information, visit ge.com.
Ned Reynolds
GE Capital
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