Thursday April 20, 2017 0 comments
WESTMINSTER -- Virginia-based Oxford Finance LLC announced closing a $20 million senior secured term loan with Cerapedics Inc., a privately-held orthobiologics company engaged in the development and commercialization of bone graft substitute products for the treatment of orthopedic injuries.
Oxford Finance is an industry-leading specialty finance firm that provides senior debt to life sciences and healthcare services companies,
Cerapedics said its lead product, i-FACTOR Peptide Enhanced Bone Graft, is the only biologic bone graft that uses a unique small peptide attachment factor (P-15) bound to anorganic bone mineral.
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 versus autograft, the company said.
Cerapedics said loan proceeds are being used to support the ongoing commercialization of i-FACTOR's use in cervical spine procedures and help fund a FDA study on its application in Transforaminal Lumbar Interbody Fusion.
"We are encouraged by the strength of i-FACTOR's clinical safety and efficacy data," said Christopher A. Herr, senior managing director at Oxford Finance.
"Oxford is pleased to provide capital to help Cerapedics continue to enhance the science of bone repair."
"We are pleased to be working with a strong partner in Oxford Finance in executing on our key growth initiatives," said Glen Kashuba, Cerapedics CEO.