SOURCE: Cytovance Biologics

Cytovance Biologics

October 30, 2014 04:00 ET

Cytovance Biologics, Inc. Secures $20 Million Credit Facility

OKLAHOMA CITY, OK--(Marketwired - Oct 30, 2014) - Today Cytovance® Biologics, Inc., a leading full-service contract manufacturer of mammalian and microbial biologics, announces that it has secured a $20 Million Credit Facility from Monroe Capital.

Cytovance® Biologics is a biopharmaceutical contract manufacturing company specializing in the production of therapeutic proteins and antibodies from both mammalian cell culture and microbial fermentation. In addition to its cGMP manufacturing services, the company offers process development, cGMP cell banking and support services from its Oklahoma City state-of-the-art facilities.

The funding will be used to complete the build out of Cytovance's new greenfield microbial facility which will house a 1000L fermentation train, an additional 200L fermenter and applicable cell processing equipment. The new state of the art facility will also include 2 x 5,000L refolding tanks, and a complete downstream microbial purification area. Cytovance will also use the funds to boost the expansion of its cGMP warehouse and the addition of a 3rd purification suite in its current mammalian manufacturing facility. Cytovance plans to invest in analytical development and equipment to support Process Characterization Studies for existing and future clients and will increase personnel count by 25% by the end of 2015.

"This growth in manufacturing capacity as well increasing our internal organization is to meet growing customer demands for Cytovance's services," commented Darren Head, Cytovance President & CEO. "This marks another milestone in our contract manufacturing strategy of providing quality material to key clients as they move through the clinic and into commercial manufacturing."

About Monroe Capital
Monroe Capital LLC is a leading provider of senior and junior debt and equity co-investments to middle-market companies in the U.S. and Canada. Investment types include unitranche financings, cash flow and enterprise value based loans, acquisition facilities, mezzanine debt, second lien or last-out loans and equity co-investments. Monroe Capital prides itself on its flexible investment approach and its ability to close and fund transactions quickly. Monroe is committed to being a value-added and user-friendly partner to owners, senior management and private equity sponsors. Monroe has been recognized by Global M&A Network as the 2013 Small Mid Market Lender of the Year and by Private Debt Investor as the 2013 Unitranche Lender of the Year. To learn more about Monroe Capital LLC, visit www.monroecap.com.

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