Lipocine in $10-million loan agreement with Silicon Valley Ban

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Lipocine (NASDAQ:LPCN) announced receipt of $10-million in January by means of a loan and security agreement with Silicon Valley Bank. 

"This debt facility strengthens our balance sheet and provides increased flexibility to execute on our corporate strategy and provide funding through important milestones," Morgan Brown, EVP and CFO of Lipocine, said in a statement.

Added Igor DaCruz, a VP at Silicon, "Our goal is to bring the right financing, connections and services to Lipocine as they execute on their mission to develop and commercialize innovative pharmaceutical products for use in men's and women's health."