Funding will support the commercial launch of Selux’s Next-Generation Phenotyping rapid antimicrobial susceptibility testing platform
Oxford Finance is announcing the closing of a $30 million senior secured term loan with Selux Diagnostic. (Credit: pasja1000 from Pixabay)
Oxford Finance LLC (“Oxford”), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, is announcing the closing of a $30 million senior secured term loan with Selux Diagnostic, Inc. (“Selux” or “the Company”), a Boston-based medical device company leading a new era in personalized diagnostics to combat superbug infections and fight antibiotic resistance.
Proceeds from the transaction will fund the commercialization of the Company’s Next-Generation Phenotyping (“NGP”) rapid antimicrobial susceptibility testing platform.
Selux is developing an NGP platform that promises to transform infectious disease patient treatment by dramatically increasing the speed and accuracy with which targeted, personalized antibiotic therapies can be prescribed. Earlier, better-informed treatment decisions will save lives, improve patient outcomes, decrease hospital lengths of stay and hospital-acquired infections, and help combat the global antibiotic resistance epidemic.
“Selux’s NGP platform is addressing the unmet needs in the global antibiotic resistance crisis by helping preserve antibiotics’ efficacy for future generations,” said Christopher A. Herr, senior managing director at Oxford. “We are pleased to be a capital provider to Selux and support its team of top scientists and engineers and their vision to transform infectious disease treatment.”
“This partnership with Oxford is the next step in fighting the global crisis of antibiotic resistance by establishing NGP rapid AST as the new standard,” said Steve Lufkin, CEO of Selux. “Selux is redefining speed to bring healthcare providers a personalized, same shift treatment for infectious disease patients.”
Source: Company Press Release