SAN DIEGO--(BUSINESS WIRE)--Ardea Biosciences, Inc. (Nasdaq:RDEA) announced today that it entered into an $8.0 million growth capital loan agreement with Oxford Finance Corporation and Silicon Valley Bank. Among its terms, the loan bears interest at 12% per annum over an approximate 3 year period and contains no financial covenants. In connection with the loan, Ardea issued warrants to the lenders entitling them to purchase up to approximately 56,000 shares of common stock over a seven year period.
