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Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $20 million term loan with with Zafgen, Inc. The funds were provided to Zafgen from both Oxford and MidCap Financial. Proceeds of the loan will be used for working capital growth.
"Oxford is impressed with Zafgen's novel approach to treating obesity and the results from its clinical trials with its lead product candidate, beloranib," said Christopher A. Herr, managing director for Oxford Finance. "We are pleased to provide capital to Zafgen to support its continuing growth."
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide.
MidCap Financial, LLC is a commercial finance company focused on middle market lending in the broad national healthcare industry. MidCap specializes in $5 million to $200 million loans. The company is headquartered in Bethesda, MD, with offices in Los Angeles, and Chicago.