Wednesday, December 12, 2012

Square 1 Bank Announces Credit Facility to Heat Biologics, Inc

CED Mentor Partner Square 1 Bank today announced that it has provided a credit facility to Triangle-based CED Member Heat Biologics, Inc., a clinical-stage immunotherapy company.

Proceeds of the credit facility will be used to support ongoing clinical trials and company growth, according to a statement released by the companies.

Heat Biologics focuses on developing ImPACT (Immune Pan-Antigen Cytotoxic Therapy) therapeutic vaccines to combat cancers and infectious diseases. The company relocated from Miami to Chapel Hill in 2010.

“Square 1 Bank has been an excellent partner for Heat Biologics by providing valuable, strategic advice related to finance. The team at Square 1 listened to our needs and provided creative solutions that met the strategic goals of our company,” said Jeff Wolf, founder and chief executive officer of Heat Biologics, in a statement.

Mara Huntington, senior vice president in Square 1’s Life Sciences division added, “We were immediately impressed with the company’s management team and their cutting edge technology which has the potential to disrupt the way cancer and other diseases are treated. We are pleased to be Heat Biologics’ financial partner.”

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