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Astute Medical and CRG Announce FDA Milestone Under Term Loan Agreement

Oct. 9, 2014 -- Astute Medical, Inc. and CRG today announced that Astute recently achieved a milestone under the terms of its existing term loan agreement with CRG. Under the term loan agreement, CRG will provide up to $30 million to support the commercialization of the NephroCheck® Test System. An additional $10 million will become available to Astute upon the achievement of certain revenue milestones. Last month, Astute announced receipt of 510(k) clearance for the NephroCheck® Test System from the United States Food and Drug Administration (FDA). The NephroCheck® Test System is the first test for risk assessment of acute kidney injury (AKI) to receive FDA clearance.

Structured Debt Primer

Several consistent features make Structured Debt a compelling option when compared to traditional sources of capital; these include: (1) access to long-term capital on flexible, customizable terms, (2) a competitive cost of capital with limited equity dilution, and (3) straightforward transaction execution processes. The purpose of this white paper is to introduce Structured Debt, provide an overview of the increasingly important role it plays in capital markets, identify companies and situations for which it is best suited, and discuss its key terms, variations, and advantages from the perspective of a growth-stage company.