PolyMedix Inc. Restructures Its Debt and Secures $12 Million Credit Facility

RADNOR, Pa., April 10, 2012 (GLOBE NEWSWIRE) -- PolyMedix, Inc. (OTCBB:PYMX), a biotechnology company focused on developing innovative therapeutic drugs to treat serious acute-care conditions, announced that it has entered into a loan and security agreement with MidCap Financial LLC. Through the secured term loan, MidCap will provide PolyMedix with up to $12 million in capital. Proceeds from the facility were used to pay-off PolyMedix's existing debt facility and for general working capital purposes.