CAMBRIDGE and BOSTON, Mass./June 17, 2002 - Centagenetix, Inc., a company dedicated to deciphering the genetic basis for longevity and the diseases of aging and developing products that promote vigorous health into old age, and Comerica (NYSE: CMA), a leading financial services company, announced today that Comerica's Technology and Life Sciences Division has provided the Cambridge company with a $1.8 million credit facility that includes a $750,000 equipment term loan, a $700,000 revolving credit line, and a $350,000 standby letter of credit.
"Comerica is committed to serving the needs of technology and life sciences companies at all stages, from start-up to IPO and beyond," said Parag Shah, senior vice president and group head of Comerica's East Coast Life Sciences Practice. "We are pleased to add Centagenetix to our portfolio of early-stage companies and look forward to providing this dynamic company, which is backed by a great VC, with the services and products it needs as it grows."
In August 2001, the founding scientists of Centagenetix, working at Harvard, published the discovery a region on human chromosome 4 that is likely to contain a gene or genes associated with extraordinary longevity. This discovery was enabled through access to samples provided by centenarians - individuals who have reached the age of 100. The company continues to study centenarians to identify longevity-related genes that will enable Centagenetix to identify novel drug targets associated with age-related diseases (such as cardiovascular disease and Alzheimer's Disease).
"We were very impressed with the depth of understanding we encountered at Comerica, both regarding our financial needs and our scientific approach," said Dr. Doros Platika, Centagenetix's CEO. "It clearly is a great advantage for us that the bankers we deal with have a solid understanding of our business and science. We feel confident that Comerica has the expertise and resources we'll need as we grow."
About Centagenetix
Based in Cambridge, Massachusetts, Centagenetix, Inc. is a privately held venture capital backed company founded to decipher the genetic basis of longevity and to develop pharmaceutical products that promote vigorous health into old age. For more information on Centagenetix, or to participate in their centenarian studies, please visit the company's website at www.centagenetix.com or call 1-866-LIVE-100.
About Comerica’s Technology and Life Sciences Division
Comerica’s Technology and Life Sciences Division is one of the nation’s leading technology banking practices, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. Veteran bankers provide credit and financial services and products to young, growing, professionally backed technology and life sciences companies, as well as their more mature counterparts in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. From 19 offices located across the U.S., Comerica’s Technology and Life Sciences Division serves all major technology centers. Comerica is among the 20 largest banking companies in the nation, with $50 billion in assets.
Media Contacts:
Irene Olshansky
Centagenetix
(617) 225-2686
iolshansky@centagenetix.com
or
Adrienne Moch
Pacifico (for Comerica’s Technology and Life Sciences Division)
(408) 293-8600 x319
amoch@pacifico.com
or
Keith Turner
Comerica Bank-California
(408) 556-5111
keith_turner@comerica.com
