The funding will be used in part to settle a convertible bond facility Novacyt entered into earlier this year, as well as for working capital.
The company has used a portion of the new facility to pay back existing debt to the bank, as well as a final payment designated in the parties' earlier loan agreement.
The credit facility, available through Sept. 17, 2024, replaces a prior credit facility dated Aug. 11, 2016 for $1 billion.
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.