AUBURN, Ala., Dec. 22, 2021 (GLOBE NEWSWIRE) -- SiO2 Materials Science (SiO2), an advanced materials science corporation introducing a breakthrough disruptive technology platform serving the biopharma, molecular diagnostic, and consumer healthcare industries, today announced that it has successfully entered in a new $205 million five year facility provided by funds managed by Oaktree Capital Management, L.P. ("Oaktree"). Proceeds of the facility will be used to refinance existing senior debt and provide funds for general corporate purposes and growth acceleration.
"We are pleased to have leading global investment management firm Oaktree as our new financing partner as we focus on accelerating the use of our innovative materials science platform in the biotechnology and molecular diagnostics industries. Oaktree has demonstrated a collaborative partnership approach to innovative companies in the life sciences, making it an excellent fit to support SiO2's commercial growth strategy over the next five years," said Lawrence Ganti, President of SiO2.
Aman Kumar, Co-Portfolio Manager of Life Sciences Lending at Oaktree, added, "We are delighted to partner with SiO2 at this point in its development. We recognize the uniqueness of its technology platform and strength of its existing customer relationships and look forward to supporting the company's continued and accelerated growth."
About SiO2 Materials Science:
SiO2 Materials Science is an advanced materials science corporation introducing breakthrough disruptive technology serving the biopharma, molecular diagnostic, and consumer healthcare industries. The company is located in Auburn, Alabama. The company has research partnerships with leading professors at the foremost universities such as University of California - Santa Barbara, University of Chicago, and MIT / Harvard. The company has commercialized its innovative materials science for numerous leaders in the life sciences. Its core products include vials and pre-filled syringes for biologic drugs and vaccines; blood collection tubes for genomic analytics and liquid biopsies; and custom-designed packages for pharmaceutical companies. For more information, visit www.sio2ms.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $158 billion in assets under management as of Sept. 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com.
Media:
Brett Stapper
Brett@gofrontlines.com
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