Singulex will jump into in vitro diagnostics backed by $55M in debt, equity

Singulex raised $55 million in debt and equity financing to help it advance into the in vitro diagnostics business. The Alameda, CA-based company will use the money, in part, to back the development and regulatory approval of a fully automated diagnostic instrument and assays, with a focus on the global market. Singulex nailed down a $40 million debt facility from Oxford Finance and Silicon Valley Bank. The remaining $15 million comes from equity financing, though the company did not disclose specific investors. Nearly a year ago, Singulex canceled a proposed $70 million IPO, citing poor market conditions. Story

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