Published on July 29, 2010 at 4:50 AM
Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, today announced that it was the lead lender for a $30 million credit facility provided to Cadence Pharmaceuticals. Silicon Valley Bank and GE Financial Services, Inc. also participated in the loan agreement. This infusion of capital will support the company's potential launch of their investigational product candidate, OFIRMEV™, an intravenous formulation of acetaminophen that is currently marketed in Europe for the treatment of acute pain and fever.
"Oxford was pleased to deliver a financing package to help Cadence introduce OFIRMEV™ to the U.S. market," said Christopher Herr, Managing Director of Oxford Finance Corporation. "The proven track record of this product in Europe, combined with the experienced management team, presented an excellent lending opportunity for us."
SOURCE Oxford Finance Corporation