Verenium Gets $16M in Credit Line

San Diego-based biotechnology firm Verenium announced this morning that it has scored credit lines totaling $16M, for the development of its enzyme development efforts. The firm said it has entered into an agreement with Comerica Bank and the Export-Import Bank of the United States for two 18-month, secure revolving credit facilities worth up to $13M, plus also $3M in secured equipment financing for a building at its laboratories and headquarters in San Diego. Details on the terms of those credit lines was not announced.