Vitae's Debt Financing: Crucial Lifeline in a Tightening Financial Market
This article was originally published in Start Up
Executive Summary
Roughly one week after GlaxoSmithKline gave Vitae Pharmaceuticals back rights to its renin inhibitor, the biotech signed a $13 million loan deal with Silicon Valley Bank and Oxford Finance, providing a cash runway at least into 2010. The cash lifeline was relatively small in dollar value but significant for even happening in the first place. The hard economic times have all but shut down the venture capital supply, leaving serious questions about money strategies for other biotechs.
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Best of the Blog: START-UP May/June 2009
Our favorite blog posts from May and June related to stories not covered elsewhere in this issue of Start-Up.
Best of the Blog: START-UP May/June 2009
Our favorite blog posts from May and June related to stories not covered elsewhere in this issue of Start-Up.