United BioSource Corporation (UBC), a global scientific and medical affairs organization based in Bethesda, Md., has secured a new line of credit that provides the company with up to $150 million in additional financing for acquisitions and other significant growth investments. Wells Fargo, PNC Bank, Capital One and JPMorgan Chase participated in financing the new credit facility.
“At a time when financial institutions are more cautious and lending standards are increasingly stringent, we are extremely pleased that the capital markets have provided such a strong vote of confidence for UBC,” said CEO Ethan Leder. “This capital will allow us to aggressively pursue our internal investments and targeted acquisition strategy.”
UBC was formed in 2003 with $153 million in private equity investments. In 2009 the company secured an additional $125 million investment from Boston-based Berkshire Partners. UBC recently opened its 10th office in Europe and its first in Japan. The company employs over 1,400 in 21 countries, partnering with life science companies to develop and commercialize biopharmaceuticals, medical devices, and other health care products.