#USA #San Francisco #Life Sciences #Laboratory Equipment #Excedr

Excedr Secures $25 Million Growth Capital

Excedr, Inc., renowned for its comprehensive laboratory equipment leasing solutions for the life sciences and healthcare sectors, recently announced it has raised a significant $25 million in growth capital. This funding round is comprised of two parts: a $17 million senior credit facility from BOK Financial and $8 million in equity contributions from existing stakeholders alongside global single-family offices with deep expertise in biopharma and lab services.

The fresh capital injection aims to bolster Excedr's equipment leasing portfolio, allowing the company to enhance its offerings amid the growing demand for cost-effective, flexible financing solutions within the life sciences ecosystem. The BOK Financial credit facility, which includes a revolving credit line and term loan, is specifically structured to facilitate this expansion.

Excedr has established a strong reputation as a trusted partner for both startup biotech firms and more established industry entities, thanks to its long-term partnerships with major original equipment manufacturers (OEMs) such as Danaher, Sartorius, and Bio-Rad. The company’s unique approach combines scientific knowledge with flexible financing and extensive equipment support, providing researchers access to essential equipment while conserving their financial resources, minimizing downtime, and boosting research effectiveness.

Reed Upson, Senior Vice President of Asset-Based Lending at BOK Financial, expressed excitement over partnering with Excedr in its next growth phase. He acknowledged Excedr's distinctive business model which serves a broad and high-quality clientele across the life sciences landscape. The company's strong OEM relationships, astute underwriting methods, and proven operational success position it favorably for continuous growth.

Jon Chee, Co-founder and CEO of Excedr, commented on the significance of this funding milestone, stating that the flexibility offered by BOK Financial’s credit solution, along with support from existing and new investors, will enable the company to widen its equipment portfolio, strengthen its OEM partnerships, and invest further in its platform. This strategy aims to ensure that more scientists can obtain vital equipment without squandering equity or working capital, subsequently enhancing patient outcomes in the healthcare realm.

This financing round arrives at a crucial moment for the life sciences sector, as organizations across the research and development spectrum increasingly seek adaptable, non-dilutive solutions that empower them to advance scientific endeavors with limited capital.

About BOK Financial

BOK Financial has been a reliable financial services partner for over a century, catering to consumers, businesses, and wealth clients. Their Asset-Based Lending division specializes in customized credit solutions ranging from $5 million to $50 million, supporting businesses in financing working capital and growth initiatives.

About Excedr, Inc.

Founded in 2011 and initially incubated within the University of California, Berkeley laboratories, Excedr specializes in leasing solutions for lab equipment. Its non-dilutive capital platform enables scientists and organizations access to cutting-edge technology while preserving financial resources and accelerating research and commercialization efforts.