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Bankruptcy Judge Approves Gamma Medica’s DIP Financing



10/4/2012 10:12:26 AM

NORTHRIDGE, Calif.--(BUSINESS WIRE)--Judge Victoria Kaufman of the U.S. Bankruptcy Court for the Central District of California (San Fernando Valley Division) approved Gamma Medica Inc.’s $1.5 million debtor-in-possession (“DIP”) financing on a final basis October 3, 2012 as part of its Chapter 11 restructuring. This DIP financing order provides the molecular breast imaging (MBI) manufacturer with sufficient financing to pursue a reorganization or asset sale. “Gamma Medica’s LumaGEM® Molecular Breast Imaging System is already in the market and is very promising,” said recently named CEO Jim Calandra. “We also have industry leading preclinical imaging products. We plan on being sure our tools are in the hands of researchers and radiologists working in women’s imaging.”

Read at BioSpace.com


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