Tuesday, October 21, 2008
SkinMedica Scores Debt Financing
Carlsbad-based SkinMedica, a developer of cosmeceuticals for the dermatology field, has scored $27.5M in debt from two lenders. According to GE Healthcare Financial Services and BlueCrest Capital Finance, they have provided $27.5M in a senior secured credit facility to SkinMedica. The deal includes a $22.5M venture loan and a $5M revolving credit line. According to the firms, SkinMedica will use the financing for general corporate purposes and to strengthen its balance sheet. SkinMedica is venture backed by Domain Associates, Apax Partners, Perseus-Soros Biopharmaceutical Fund, Healthcare Ventures, EuclidSR Partners and Montagu Newhall.