Navigation Links
Bacterin Secures $25 Million Financing with OrbiMed
Date:8/28/2012

BELGRADE, Mont., Aug. 28, 2012 /PRNewswire/ -- Bacterin International Holdings, Inc. (NYSE Amex: BONE), a leader in the development of unique bone graft material and antimicrobial coatings for medical applications, announced the closing of a $25 million non-dilutive financing with an affiliate of OrbiMed Advisors LLC.  The financing will enable Bacterin to execute its growth strategy through anticipated profitability.

Under the terms of the agreement, Bacterin initially received $20 million and has the ability to draw down an additional $5 million based upon the achievement of mutually agreed upon revenue objectives prior to December 31, 2013.  The Company received net proceeds of approximately $10 million after repayment of existing indebtedness as well as other transaction related fees and expenses.  Net proceeds will be used by the Company for general working capital purposes. No equity securities or warrants were issued as part of the transaction.

"Today's funding marks an important milestone for the Company as we entered into a financing agreement with OrbiMed.  With this financing, we don't anticipate the need for additional working capital in our pursuit of achieving profitability," said Guy Cook, Chairman and CEO of Bacterin. "OrbiMed's recognition of Bacterin's unique technology and strong growth profile enabled us to secure this non-dilutive financing option. The future and long-term opportunity for Bacterin products, in multi-billion dollar addressable markets, is today stronger than ever."

"We are very pleased to partner with Bacterin and offer a non-dilutive capital solution to help the Company execute its growth strategy," said Tadd Wessel, a Managing Director on the Royalty Opportunities team at OrbiMed. "Bacterin has made substantial progress with the commercialization of their biologics platform and we look forward to w
'/>"/>

SOURCE Bacterin International Holdings, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. Bacterin Receives Letter From NYSE MKT LLC Regarding Timely Notice of Record Date for 2012 Annual Meeting of Stockholders
2. Bacterin Announces Record 2011 Revenue of $30.1 Million; Up 96% Year-over-Year
3. Bacterin International Holdings, Inc. Schedules Fourth Quarter 2011 Financial Earnings Conference Call
4. Bacterin Signs Distribution Agreement with Jeil for LeForte Craniomaxillofacial System
5. Insmed Secures $20 Million Loan Agreement With Hercules Technology Growth Capital
6. PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
7. Generex Secures Commitments for $3.6M Capital Raise
8. Roka Bioscience Secures $47.5 Million in Series D Financing
9. A New Type of Dendritic Cell-Based Cancer Vaccine has Received Approval for Clinical Tests and at the Same Time Secures Substantial Financing
10. Modern Mobility Aids, Inc. Secures Financing to Close Acquisition Agreement of LumiGene Technologies
11. The Leukemia & Lymphoma Society Awards $12 Million in Research Grants in Four Critical Areas of Unmet Medical Need
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/23/2014)... 23, 2014 OncLive® is pleased ... has joined its Strategic Alliance Partnership program. ... program, UNC Lineberger will have the opportunity to ... of its cutting-edge research initiatives, community-directed cancer prevention ... will work with OncLive to educate their peers ...
(Date:7/23/2014)... (PRWEB) July 23, 2014 ... innovative and comprehensive consultancy and pharma training services, ... and Safety (ACRES) , a non-profit integrating the ... build and maintain a global system for clinical ... collaboration to improve the expertise of industry professionals ...
(Date:7/22/2014)... D.C., June 22, 2014 Even within a phylum so ... is distinguished among other arthropods for its cruelty -- at ... Central America, the fly is a most predatory sort of ... cricket, deposits a smear of larvae, and leaves its wicked ... out. , None of this would be possible without ...
(Date:7/22/2014)... engineering at the University of Texas at Dallas, has ... Texas section of the American Society of Mechanical Engineers ... 158 countries who develop engineering standards and training. They ... the world. , ASME recognized Baughn earlier this year ... Baughn retired as an engineering fellow in 2012 after ...
Breaking Biology Technology:OncLive Expands Its Strategic Alliance Partnership Program With the Addition of UNC Lineberger Comprehensive Cancer Center 2OncLive Expands Its Strategic Alliance Partnership Program With the Addition of UNC Lineberger Comprehensive Cancer Center 3Astra Nova and ACRES Partner on Quality and Access of Training for Research Professionals 2Astra Nova and ACRES Partner on Quality and Access of Training for Research Professionals 3Fly-inspired sound detector 2Fly-inspired sound detector 3Fly-inspired sound detector 4UT Dallas professor receives Engineer of the Year award 2
... average 2006 super bowl commercial is unattainable for most ... for small business. , ,Using an Internet-based advertising agency ... a comprehensive TV advertising campaign in less than a ... You can purchase a pre-packaged ad from their ad ...
... University of Wisconsin-Madison's undergrad engineering contest was swept this ... solar energy collector that concentrates the sun's rays. , ... Friday in both the Schoofs Prize for Creativity and ... the mirrors that many current solar systems use to ...
... Quad Graphics, a printer of magazines, catalogs, books, direct ... tools for clients into a new business unit called ... Jaeger, who also serves as Quad Graphics' vice president ... QuadSystems is backed by the capabilities of 260 corporate ...
Cached Biology Technology:Local TV advertising - Super Bowl vs. super bargain 2Local TV advertising - Super Bowl vs. super bargain 3Local TV advertising - Super Bowl vs. super bargain 4Concentrated solar energy project wins Innovation Days prizes 2
(Date:7/23/2014)... habit of getting tangled and forming knots. Scientists study ... to disentangle them (e.g. useful for gene sequencing techniques). ... Studies (SISSA) in Trieste and his team have been ... and their dynamics. In their latest paper, just published ... with Marco Di Stefano, first author and PhD student ...
(Date:7/23/2014)... available in German . ... for orientation, some of which might be very different ... polarization pattern produced by sunlight in the atmosphere to ... Planck Institute for Ornithology in Seewiesen, Germany, and Queen,s ... a night active mammal, the greater mouse-eared bat, has ...
(Date:7/23/2014)... Currently, no cure exists for Alzheimer,s disease, the ... Americans. But scientists are now reporting new progress ... cancer treatment, that shows promise as a potential ... ACS, Journal of Medicinal Chemistry . , ... that in a healthy brain, the protein known ...
Breaking Biology News(10 mins):Bats use the evening sky's polarization pattern for orientation 2
... Scientists from the Universit de Montral and McGill University ... chemical reactions within the human body, to become highly ... a new study published in The Journal of ... an enzyme structure," says Joelle Pelletier, a professor at ...
... nearly 50 years, a population of a nearly extinct ... Forest,s San Jacinto Wilderness. Biologists from the U.S. Geological ... and scientists from the San Diego Natural History Museum ... rare mountain yellow-legged frog in the San Jacinto Wilderness ...
... University of British Columbia researchers are part of an ... land plants, a step they hope will lead to ... ultimately boost conservation efforts. Barcodes based on portions ... on products have already emerged as a viable ...
Cached Biology News:Biologists rediscover endangered frog population 2Biologists rediscover endangered frog population 3Biologists rediscover endangered frog population 4UBC researchers help push for standard DNA barcodes for plants 2
... The Sciclone ALH 4000 workstation is the ... seeking to introduce automated liquid handling capabilities,into ... that need to support routine applications on ... and,integrated for walk-away automation even when ...
Cells are grown in triple flasks, roller bottles, or NUNC Factory. Viability and growth curves are generated from a parallel representative culture....
NovaScreen offers cell biology, cell culture and molecular biology services for companies who lack a cell culture facility....
... Life Sciences provides cost effective cell culture ... or monoclonal antibodies. Quality at a reasonable ... you require research or commercial product, we ... methods such as roller bottles, hollow fiber, ...
Biology Products: