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Boston Financial & Equity Closes Lease Line for Public Biopharma Firm

March 19, 2019, 07:00 AM
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Boston Financial & Equity recently closed an $800,000 equipment lease line with a commercial stage biopharmaceutical company. This small public company had revenues of $22 million, but had net losses of $23 million in 2018.

It recently received a renewal of its FDA pass-through approval for its current drug and completed a sizeable convertible debt funding in November 2018. Its first scheduled takedown was for $600,000 of various lab equipment critically needed to grow its current drug pipeline.

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