@ Tranzyme Pharma lands $9M in debt financing | SEBIO

Tranzyme Pharma lands $9M in debt financing

Posted by on Feb 2, 2012

RESEARCH TRIANGLE PARK, NC – Tranzyme Pharma (Nasdaq:TZYM), a drug development company, on Wednesday announced that it has landed an additional $9.3 million in debt financing from Oxford Finance LLC   and Horizon Technology Finance Corp.    (Nasdaq:HRZN).

Vipin K. Garg, president and CEO of Tranzyme, says the money will help Tranzyme take one of its drugs to a new drug application later this year.

Because of research and development costs, Tranzyme typically reports net operating losses. Through the first nine months of last year, it reported $13.1 million in losses.

http://www.bizjournals.com/triangle/blog/2012/02/tranzyme-pharma-lands-9m-in-debt.html

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