Navigation Links
PharmAthene Secures $7.5 Million Credit Facility From GE Capital, Healthcare Financial Services
Date:4/3/2012

ANNAPOLIS, Md., April 3, 2012 /PRNewswire/ -- PharmAthene, Inc. (NYSE Amex: PIP) today announced that it has secured $7.5 million in senior secured credit facilities from GE Capital, Healthcare Financial Services consisting of a $2.5 million term loan and a revolving line of credit of up to $5 million.

Linda L. Chang, Senior Vice President and Chief Financial Officer, commented, "We are very pleased to partner with GE Capital – a recognized leader in healthcare financing.  This financing further strengthens our balance sheet and provides us with increased flexibility to manage our working capital requirements."

"Our expected 2012 monthly cash burn is less than $500,000 per month based on currently projected activities on our contracts," Ms. Chang continued. "Given that PharmAthene had $19.2 million in cash and cash equivalents, short term investments, and net receivables as of December 31, 2011, this financing provides an additional liquidity cushion until the time in 2013 when we anticipate receiving final resolution of the litigation with SIGA Technologies."

For a summary of the terms of the credit facility, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date hereof.

About PharmAthene, Inc.

PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons.  PharmAthene's lead product development programs include:

  • SparVax™ a second generation recombinant protective antigen (rPA) anthrax vaccine
  • Valortim® a fully human monoclonal antibody for the prevention and treatment of anthrax infection
  • Recombinant BChE a novel bioscavenger for
    '/>"/>

SOURCE PharmAthene, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related biology technology :

1. PharmAthene to Present at the 24th Annual ROTH Conference on Monday, March 12, 2012
2. PharmAthene to Present at the Noble Financial Eighth Annual Equity Conference on Tuesday, January 17, 2012
3. PharmAthene Reports Third Quarter 2011 Financial and Operating Results
4. PharmAthene Progresses Second Generation rPA Anthrax Vaccine
5. PharmAthene Appoints Brian A. Markison to the Companys Board of Directors
6. PharmAthene Achieves Significant Progress in SparVax™ Anthrax Vaccine Program
7. Department of Defense Awards $5.7 Million Contract to PharmAthene for Nerve Agent Medical Countermeasure Program
8. PharmAthene Selected for Inclusion in the Russell Global Index and Russell 3000 Index
9. PharmAthene Achieves Anthrax Vaccine Program Milestone and Successfully Completes Technology Transfer
10. PharmAthene Completes $6.5 Million Registered Direct Offering
11. PharmAthene Reports First Quarter 2011 Financial and Operating Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/14/2014)... 14, 2014 Histogen, Inc., a regenerative ... cells grown under simulated embryonic conditions, today announced that ... Suneva Medical, Inc. for physician-dispensed aesthetic products containing Histogen’s ... This agreement is an amendment to the existing license ...
(Date:1/14/2014)... , Jan. 14, 2014 The largest international ... medicinal plants and therapeutic derivatives thereof has endorsed ... and researchers about the challenges of adulterated herb ... ) The Society for Medicinal ...
(Date:1/14/2014)... 2014  RXi Pharmaceuticals Corporation (OTCQX: RXII), a biotechnology ... therapies addressing major unmet medical needs using RNA-targeted ... of Allowance from the United States Patent and ... (sd-rxRNA®), for the treatment of fibrosis. The patent ...
(Date:1/14/2014)... Orange, CA (PRWEB) January 14, 2014 Kerr ... a 10-minute video and additional how-to information about dual arch ... Great Restorations with Dual Arch Impressions,” the blog entry serves ... the technique and houses a step-by-step demonstration by Dr. David ...
Breaking Biology Technology:Histogen and Suneva Medical Expand License for Cell Conditioned Media-based Aesthetic Products Internationally 2Histogen and Suneva Medical Expand License for Cell Conditioned Media-based Aesthetic Products Internationally 3World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 2World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 3World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 4World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 5World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 6World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 7World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 8RXi Pharmaceuticals Receives US Notice of Allowance for a Key Patent Relating to its Self-Delivering Technology with sd-rxRNAs targeting CTGF, including RXI-109, for the Treatment of Fibrotic Disorders 2RXi Pharmaceuticals Receives US Notice of Allowance for a Key Patent Relating to its Self-Delivering Technology with sd-rxRNAs targeting CTGF, including RXI-109, for the Treatment of Fibrotic Disorders 3
... researchers have identified a class of high-strength metal alloys ... smaller and more responsive. The alloys could be ... loudspeakers, and components that boost the performance of medical ... engines. While these nanostructured metal alloys are not ...
... Reportlinker.com announces that a new market research report ... Three Alternative Scenarios of the Future In Vitro ... http://www.reportlinker.com/p0363585/Three-Alternative-Scenarios-of-the-Future-In-Vitro-Diagnostics-Market-through-2018.html This report is ... and R&D executives. The report is designed to ...
... N.J., March 9, 2011 Palatin Technologies, Inc. (NYSE Amex: ... at the ROTH 23rd Annual OC Growth Stock Conference on ... conference will be held at the Ritz Carlton Laguna Niguel ... President and Chief Executive Officer of Palatin Technologies, will provide ...
Cached Biology Technology:Rutgers researchers identify materials that may deliver more 'bounce' 2Reportlinker Adds Three Alternative Scenarios of the Future In Vitro Diagnostics Market through 2018 2
(Date:4/16/2014)... ,, Imagine you cannot move your eyes up, and you cannot ... tilted upward so that your eyes look straight when they are ... be corrected to allow people a normal position of their head. ... why this happens. , In a paper published in the April ...
(Date:4/16/2014)... bulbar muscular atrophy (SBMA) is a rare inherited neuromuscular disorder ... long considered it to be essentially an affliction of primary ... brainstem that control muscle movement. , But in a new ... Neuron , a team of scientists at the University ...
(Date:4/16/2014)... array of finger-like projections called microvilli covers the ... University researchers have now discovered how intestinal cells build ... and defending against pathogens. The findings, published April 10 ... for adhesion molecules in brush border assembly and increase ...
Breaking Biology News(10 mins):Researchers track down cause of eye mobility disorder 2Mutant protein in muscle linked to neuromuscular disorder 2Vanderbilt researchers discover how intestinal cells build nutrient-absorbing surface 2Vanderbilt researchers discover how intestinal cells build nutrient-absorbing surface 3
... A study led by St. Jude Children,s Research Hospital has ... of nerve cells in amyotrophic lateral sclerosis (ALS), also known ... same mutation occurred in both genes and led to the ... an essential role in normal RNA functioning and have also ...
... An international group of researchers has discovered seven ... with increased risk of age-related macular degeneration (AMD), a ... network of international investigators representing 18 research groups, also ... which is published online in Nature Genetics ...
... CHAMPAIGN, Ill. A study published in the journal ... late 1800s in West Central Illinois. The study could not ... says a co-author of the new research., Charles Robertson, a ... and the University of Illinois, was one of the first ...
Cached Biology News:2 new genes linked to amyotrophic lateral sclerosis and related disorders 22 new genes linked to amyotrophic lateral sclerosis and related disorders 3International consortium discovers seven new genomic regions associated with AMD 2International consortium discovers seven new genomic regions associated with AMD 3Illinois town provides a historical foundation for today's bee research 2
... Immulon 2HB ELISA strips, high binding ... affinity for hydrophilic proteins and complexes. ... for reagent injection while providing the ... Each strip accomodates 12 wells., ...
...
Ethylene glycol-bis(2-aminoethyl ether)-N,N,N',N'-tetraacetic acid, Molecular Biology Grade...
... efficiencies and the chemistry of light production ... benefit that they require simple triggering conditions ... This benefit has been exploited to great ... compounds can also be easily modified to ...
Biology Products: