Thursday, June 2, 2011
Sequenom Lands $30M In Credit Facility
San Diego-based Sequenom, which provides molecular diagnostics and genetic analysis services, announced today that it has landed a $30M, credit facility from Silicon Valley Bank. The publicly held firm said the new funding will go towards development and commercialization of new products, as well as other near term growth initiatives. The firm said the facility includes a term loan of up to $20M, plus $10M in a revolving line of credit.