GE Capital provides $7.5M in senior secured credit facilities to PharmAthene

GE Capital, Healthcare Financial Services announced today that it was sole lender and administrative agent on $7.5 million in senior secured credit facilities for PharmAthene, consisting of a $2.5 million term loan and a $5 million revolving line of credit. The financing will be used for general working capital purposes.

“Our team's sole focus is to provide customized lending solutions to help companies grow and meet their business objectives”

Headquartered in Annapolis, MD, PharmAthene is a leading biodefense company that develops and commercializes medical products to counter biological and chemical weapons.

"This financing further strengthens our balance sheet and provides us with increased flexibility to manage our working capital requirements," said Linda Chang, senior vice president and chief financial officer for PharmAthene. "The GE Capital team immediately understood our business and our financing needs, which expedited the loan process and confirmed for us why they're a recognized leader in healthcare finance."

"Our team's sole focus is to provide customized lending solutions to help companies grow and meet their business objectives," said Anthony Storino, senior managing director, GE Capital, Healthcare Financial Services, Life Sciences. "We're pleased to welcome PharmAthene as a customer and provide them with capital to continue their critical work in biodefense."