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loan agreement

The firm said that the funding may be used to support further development of its portfolio of diagnostics for sepsis-causing pathogens and antibiotic-resistance genes.

The firm replaced an existing $4 billion credit facility with a $5 billion one, and entered into a new $5 billion revolving credit facility. 

The agreement consists of a $100 million revolving credit facility, a $100 million initial term loan, and a $50 million delayed-draw term loan.

Proceeds from the loan facility will go toward the acquisition of Envigo's nonclinical research services business and other general corporate purposes.

The company drew $49 from the credit facility to repay an earlier outstanding loan and expects to draw another $27 million to, in part, pay for its acquisition of GenePOC.

The firm used about $38.8 million on Feb. 1 to repay all outstanding principal, interest, related fees, and other obligations under an existing loan agreement.

Karius said it will use the money to continue commercialization of its diagnostic technologies and to fund clinical studies, among other things.

The agreement amends and restates an existing loan and security agreement between NanoString and SVB to increase the size of the revolving loan facility to $20 million.

The company will use the proceeds in part to develop its Next Generation Profiling offering to analyze cancer genomes, transcriptomes, and proteomes with clinical outcome data.

The senior unsecured term loan facility was used, in part, to refinance a three-year loan agreement between BD, Citibank, and other lenders reached last year.

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