American Capital pumps $66m into Avalon:
This article was originally published in Clinica
Avalon Laboratories, a privately-held supplier of cardiopulmonary vascular cannulae, has received a $66m investment from American Capital Strategies. The funds, which will be used to drive Avalon's growth, was provided in the form of a senior term loan, senior subordinated debt and convertible preferred and common equity. American Capital is also providing Rancho Dominguez, California-based Avalon with a revolving credit facility. Avalon claims to manufacture over a third of all cannulae used globally. Its products are used to link patients up with life support machines.
You may also be interested in...
Draft policy moots crowdfunding for high-cost rare diseases alongside financial support for those "amenable to one-time treatment" but falls way short of some patient groups' expectations.
India’s Hilleman Laboratories says it’s aiming to develop an affordable vaccine that will target pregnant women in low- and middle-income countries to prevent Group B Streptococcus, a potentially fatal infection passed to babies during childbirth.
Chi-Med’s surufatinib has come up trumps in a second trial in neuroendocrine tumors, after the monitoring committee recommended an early halt following achievement of its PFS target in the pancreatic setting.