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Article: Bioniche Growing Manufacturing In Ireland Through $13M In Loans.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
Planning to expand its Galway, Ireland-based manufacturing facilities, Bioniche Life Sciences Inc. secured a $13 million loan through the Bank of Ireland.
The Belleville, Ontario-based company will gain access to the funds through its Irish pharmaceuticals business unit, Bioniche Pharma Group Ltd., which signed the loan agreement for up to C8.2 million. The bank also made another C2.5 million available to the company for currency hedging and interest rate swaps in connection with the loan.
"We've had that facility for some time and we have renovated it twice since we bought it, but the business is growing fairly quickly," said ...