ALEXANDRIA, Va. and WESTMINSTER, Col., April 19, 2017 /PRNewswire/ — Oxford Finance LLC (“Oxford”), an industry-leading specialty finance firm that provides preferred debt securities to life sciences and healthcare services companies, today announced the closing of ‘a $20 million senior secured term loan from Cerapedics Inc. (“Cerapedics”), a private orthobiology company engaged in the development and commercialization of bone graft substitute products for the treatment of orthopedic injuries.
Cerapedics’ flagship product, i-FACTOR Peptide Enhanced Bone Graft, is the only biological bone graft that uses a unique small peptide binding factor (P-15) bound to an inorganic bone mineral (ABM). The i-FACTOR is the first and only FDA approved product for anterior cervical discectomy and fusion (ACDF) and is the first device to demonstrate superiority over autograft.
Loan proceeds are used to support the ongoing commercialization of the use of i-FACTOR in cervical spine procedures and to help fund an FDA study of its application in lumbar transforaminal interbody fusion (TLIF) .
“We are encouraged by the strength of the clinical safety and efficacy data for i-FACTOR,” said Christopher A. Herr, Managing Director of Oxford Finance. “Oxford is pleased to provide capital to help Cerapedics continue to improve the science of bone repair.”
“We are delighted to be working with a strong partner, Oxford Finance, to deliver on our key growth initiatives,” said Glen KashubaCEO of Cerapedics.
About Oxford Finance LLC
Oxford Finance is a specialist finance company that provides senior secured loans to public and private life sciences and healthcare companies worldwide. For over 20 years, Oxford has provided flexible financing solutions to its clients, enabling these businesses to maximize their equity by leveraging their assets. Oxford was born on $4 billion in loans, with credit facilities ranging from 5 to 100 million dollars. Oxford is headquartered at Alexandria, Virginiawith additional offices San Diego, California; Palo Alto, California; Salt Lake City, UT and the biggest Boston region. For more information, visit oxfordfinance.com.
About Cerapedics Inc.
Cerapedics is an orthobiology company focused on the development and commercialization of its proprietary small synthetic peptide (P-15) technology platform. i-FACTOR Peptide Enhanced Bone Graft is the only organic bone graft in orthopedics that incorporates a small peptide as a fixation factor to stimulate the natural bone healing process. This new mechanism of action is designed to promote safer and more predictable bone formation compared to commercially available bone growth factors. More information can be found at cerapedics.com.
SOURCEOxford Finance Corporation