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Prometheus Laboratories Has New Financing in Hand

San Diego-based Prometheus Laboratories Inc., a specialty pharmaceutical company that pairs its drug offerings with diagnostics, said Jan. 7 that it has secured $260 million in financing.

The credit facility consisted of a $210 million term loan and a $50 million revolving credit line. Prometheus said it would use the proceeds to finance product acquisitions and refinance its existing debt.

“This credit facility gives us the additional financial leverage to accelerate the expansion of our pharmaceutical and diagnostic product portfolio in gastroenterology and oncology,” CEO Joseph Limber said in a statement.

The syndicate of lenders was arranged by Bank of America Merrill Lynch and SunTrust Robinson Humphrey Inc.

— Heather Chambers

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