Visions - Winter 2008 - 10

Business Investment Oxford Finance Corporation Shows Record Growth in 2007 Loans to Progressive Life Science Companies Give Subsidiary A Banner Year O xford Finance Corporation can boast that 2007 was its best year yet which spells success for SCOA in its pursuit to deliver loans exclusively to life science companies worldwide. Oxford Finance Corporation, a subsidiary of Sumitomo Corporation since 2004, provides financing to public companies as well as the most innovative start-ups in the life science industry— companies such as Tengion, Insulet, Peplin, Spiration and NxStage Medical. A key indicator underscoring Oxford’s success is the total dollars it has lent to its portfolio companies.As a means of comparison, Oxford funded $72 million in loans during 2004, and it closed out 2007 at an all-time high of $186 million. Since the Sumitomo acquisition of Oxford in 2004, the average loan size increased from $3.3 million to $8.8 million in 2007.At the same time, delinquency and credit losses have been minimal, reflecting Oxford’s credit discipline and deep understanding of the market it serves. Over the past six years, the company has extended equipment and growth capital loan commitments totaling $896 million to over 250 borrowers. Equipment loans are used to purchase laboratory and manufacturing equipment, computers, etc., while growth capital loans can be used to support research, product development, product licensing and acquisition, and facility enhancements. “We had an outstanding year on many fronts,” said J.Alden Philbrick, Oxford’s president and chief executive officer.“Not only did Oxford achieve record-breaking numbers, biotech companies also did well, capturing over $25 billion in equity and achieving their best year for mergers and acquisitions since 2001. Oxford’s success can be greatly attributed to our extraordinary team of people who, with their hard work and expertise in the industry, have positioned Oxford as the leader in the life science lending marketplace.” A key indicator underscoring Oxford’s success is the total dollars it has lent to its portfolio companies. As a means of comparison, Oxford funded $72 million in loans during 2004, and it closed out 2007 at an all-time high of $186 million. Oxford’s mission is clear: to deliver flexible financial solutions that leverage the clients’ equity, while empowering them with the resources needed to foster innovation and growth. Its portfolio is comprised of life science companies engaged in research and development and manufacturing of human therapeutics, diagnostics and medical devices.These companies are at all stages of growth, from start-up through post-IPO.As a subsidiary of Sumitomo Corporation, Oxford is positioned to introduce its clients to Sumitomo resources that can assist with drug and diagnostics licensing, research and development col- 10 visions Winter 2008
Visions - Winter 2008

Table of Contents for the Digital Edition of Visions - Winter 2008
