Oncothyreon Secures $12.5 Million Loan Facility From GE Capital

Oncothyreon Inc. ONTY announced that it has entered into a $12.5 million secured loan facility from GE Capital, Healthcare Financial Services GE. An initial term loan with an aggregate principal amount of $5.0 million was funded February 8, 2011. The remaining $7.5 million may be drawn at Oncothyreon's option at any time prior to November 1, 2011, subject to the achievement of certain clinical milestones and other customary conditions.