Tuesday, January 7, 2014

Halozyme Gets $20M In Term Loan

San Diego-based biopharmaceuticals firm Halozyme Therapeutics announced Monday that it has received $20M in a term loan, from Oxford Finance and Silicon Valley Bank. Terms of the new loan were not announced. According to Halozyme, the proceeds of that loan will be used for working capital and other near-term growth initiatives. The company said the new loan brings its total term loan balance to $50M, including earlier term loans to the company. Halozyme is developing drug delivery technology, aimed at increasing the absorption and dispersion of biologics, drugs and fluids.

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