Singulex, Inc., the leading provider of Single Molecule Counting (SMC™) technology for scientific discovery and clinical testing services, today announced it has secured a debt facility for up to $40 million from Oxford Finance and Silicon Valley Bank. The Company also raised $15 million in equity financing. The Company will use the funding to advance the development and commercialization of a global in vitro diagnostics business based on Singulex’s SMC technology.
“Our proprietary Single Molecule Counting technology has enabled us to build two successful businesses: Life Science Research Tools and Cardiovascular Testing Services, both of which utilize our Erenna first-generation instrument,” said Guido Baechler, President and Chief Executive Officer of Singulex. “With the proceeds from our financing in June and this debt facility, we are now in a solid position to fund the development and regulatory approval of a fully-automated diagnostic instrument and assays for the global market. Expansion into the in vitro diagnostics market is a key milestone in our long-term growth strategy.”
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