Centagenetix Receives $1.8 Million Credit Facility From Comerica.Business Editors CAMBRIDGE, Mass. & BOSTON--(BUSINESS WIRE)--June 17, 2002 Centagenetix, Inc., a company dedicated to deciphering the genetic basis for longevity and the diseases of aging and developing products that promote vigorous health into old age, and Comerica (NYSE NYSE See: New York Stock Exchange :CMA CMA - Concert Multithread Architecture from DEC. ), a leading financial services company, announced today that Comerica's Technology and Life Sciences Division has provided the Cambridge company with a $1.8 million credit facility that includes a $750,000 equipment term loan, a $700,000 revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. line, and a $350,000 standby letter of credit Standby Letter of Credit A stipulation that states a letter of credit will be called back if the payer defaults. Notes: A letter of credit is typically used in international transactions. . "Comerica is committed to serving the needs of technology and life sciences companies at all stages, from start-up to IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. and beyond," said Parag Shah, senior vice president and group head of Comerica's East Coast Life Sciences Practice. "We are pleased to add Centagenetix to our portfolio of early-stage companies and look forward to providing this dynamic company, which is backed by a great VC, with the services and products it needs as it grows." In August 2001, the founding scientists of Centagenetix, working at Harvard, published the discovery a region on human chromosome 4 that is likely to contain a gene or genes associated with extraordinary longevity. This discovery was enabled through access to samples provided by centenarians Here is a list of well-known centenarians (people who lived to be or are living at 100 years or more of age), with the still living ones bolded and italicized. This list is divided into sub-lists, according to how the centenarian (mostly) became well-known. -- individuals who have reached the age of 100. The company continues to study centenarians to identify longevity-related genes that will enable Centagenetix to identify novel drug targets associated with age-related diseases (such as cardiovascular disease Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease and Alzheimer's Disease Alzheimer's disease (ăls`hī'mərz, ôls–), degenerative disease of nerve cells in the cerebral cortex that leads to atrophy of the brain and senile dementia. ). "We were very impressed with the depth of understanding we encountered at Comerica, both regarding our financial needs and our scientific approach," said Dr. Doros Platika, Centagenetix's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "It clearly is a great advantage for us that the bankers we deal with have a solid understanding of our business and science. We feel confident that Comerica has the expertise and resources we'll need as we grow." About Centagenetix Based in Cambridge, Massachusetts, Centagenetix, Inc. is a privately held venture capital backed company founded to decipher the genetic basis of longevity and to develop pharmaceutical products that promote vigorous health into old age. For more information on Centagenetix, or to participate in their centenarian studies, please visit the company's website at www.centagenetix.com or call 1-866-LIVE-100. About Comerica's Technology and Life Sciences Division Comerica's Technology and Life Sciences Division is one of the nation's leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica's Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $50 billion in assets. For more information, visit www.comerica.com. |
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