This article was originally published in The Gray Sheet
Increase in credit facility by $15 mil. to a total of $24.6 mil. is arranged through a commitment from Fleet Bank. The Framingham, Massachusetts transgenic technology spin-off of Genzyme General also has received a commitment for a $5 mil. lease line of credit with Transamerica Technology Finance. The new capital strengthens the firm's financial position and will be used in part to refinance existing debt and for expansion of production facilities. The company is developing transgenic technology to enable development and production of recombinant proteins and monoclonal antibodies for medical uses
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