Helicos closes $20M credit facility with GE Healthcare

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Helicos BioSciences has closed a $20 million senior secured credit facility with GE Healthcare Financial Services.

The Cambridge, Mass.-based Helicos said it will use the credit facility to support working capital and commercialization efforts.

Helicos said it received $10 million under the new credit facility on Dec. 31, 2007, and has the ability to draw down the remaining $10 million by June 30, 2008.  

"We have had a relationship with GE Financial Services since 2006 and this additional loan will provide flexibility as we scale up our manufacturing and build inventory to meet customer demand in 2008 and beyond," said Steve Lombardi, president and chief operating officer of Helicos.