deals, Biotech, Financing

Helicos Secures $20M Loan

Rebecca Zacks 1/4/08

Helicos BioSciences, a Cambridge, MA-based DNA firm developing DNA analysis technology, announced today that is has closed a $20 million credit facility with GE Healthcare Financial Services. Helicos, which received the first half of the money available under the loan agreement on December 31 and can draw down the remainder by June 30, says in a statement that the funds will “provide flexibility as we scale up our manufacturing and build inventory to meet customer demand in 2008 and beyond.”