NewswireToday - /newswire/ -
Bethesda, MD, United States, 2012/08/09 - GE Capital, Healthcare Financial Services announced that it was sole lender and administrative agent on a $7.5 million senior secured term loan facility for Trimel Pharmaceuticals Corporation (TSX: TRL) (NYSE: GE) - GECapital.com. NYSE: GE
The financing will be used for working capital to support ongoing clinical development.
Based in Ontario, Canada, Trimel Pharmaceuticals Corporation is a unique specialty pharmaceutical company actively developing medications for men’s health, female sexual health and various respiratory disorders. The company holds the development and marketing rights to a bioadhesive intranasal gel drug delivery technology platform and owns a novel dry powder drug delivery technology platform. They are actively pursuing the development and application of these technologies to products that are currently in Phase II and Phase III clinical testing.
“The financing provided by GE Capital is important to our organization because it supports our ability to develop and test innovative new products,” said Kenneth Howling, CFO for Trimel Pharmaceuticals Corporation. “GE Capital understands the unique dynamics of our industry and worked closely with us to structure a financing solution to meet our needs.”
“Life science companies value having a lender dedicated to their industry who knows the unique dynamics impacting their success,” said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. “With our industry knowledge and strong balance sheet, we deliver flexible and reliable loans to customers.”
About GE Capital, Healthcare Financial Services
With in-depth industry knowledge and expertise, GE Capital, Healthcare Financial Services has provided more than $60 billion in financing over ten years to companies in over 45 healthcare sectors including senior housing, hospitals, medical offices, outpatient services, pharmaceuticals and medical devices. Our team of professionals creates business and financial solutions tailored to meet the individual needs of our customers. For more information, visit gecapital.com/healthcare.
GE Capital (gecapital.com) offers consumers and businesses around the globe an array of financial products and services. Follow company news via Twitter (@GECapital). GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance.