ELFA - Equipment Leasing and Finance Association - Equipping Business for Success

Boston Financial & Equity closes $800K Lease Line for Public Biopharma company

Posted 03/18/2019

Boston Financial & Equity recently  closed an $800,000 equipment lease line with a commercial stage biopharmaceutical company.  This small public company had revenues of $22 million, but had net losses of $23 million in 2018. They recently received a renewal of their FDA pass-through approval for their current drug and they completed a sizeable convertible debt funding in November of 2018. Their first schedule takedown was for $600K of various lab equipment critically needed to grow their current drug pipeline.

 

Related Resource http://www.bfec.com
Author
Deborah Monosson
Organization
Boston Financial & Equity
Phone Number
6172672900