United Theranostics Secures $15 Million Senior Debt Facility to Fuel Network Growth and Expansion
Minneapolis, MN, Feb. 11, 2025 (GLOBE NEWSWIRE) -- United Theranostics, a leading provider of radiopharmaceutical therapy and supportive molecular imaging for cancer treatment, is pleased to announce it successfully closed a $15 million senior debt facility with Old National Bank ((Holding Company: Old National BanCorp, NASDAQ:ONB) which is the sixth largest commercial bank in the U.S. The company will use proceeds from the facility to fund the expansion of its nationwide network of clinics offering patients: (i) approved radiopharmaceutical therapies, and (ii) clinical trials for new radiopharmaceutical drugs under investigation.
United Theranostics is a national private practice dedicated to addressing the major challenge of providing patients with broader access to radiopharmaceutical therapy and advanced molecular imaging in a community setting. "The relationship with Old National Bank provides United Theranostics with a strong financial partner that will enable us to establish up to eight new centers across the U.S. during the next 12 months. The new clinics will be modeled after our founding site in Glen Burnie, MD., and our recently opened state-of-the-art facility in Princeton, N.J. We expect our rate of clinic growth to accelerate throughout 2025 and 2026, further establishing our nationwide network of community-based facilities offering cutting-edge radiopharmaceutical therapies (both those approved by the FDA and those in clinical trial development) and advanced molecular imaging to patients throughout the U.S." said Rob Cherney, CEO of United Theranostics.
United Theranostics was founded by Dr. Michael Morris, MD, Dr. Babak Saboury, MD, and Dr. Eliot Siegel, MD. In addition, Dr. Munir Ghesani, MD, recently joined as Chief Medical Officer and is head of the company's site in Princeton, NJ.
Foley & Lardner LLP served as counsel to United Theranostics on this transaction.
About United Theranostics
United Theranostics is a national leader in providing cutting-edge radiopharmaceutical therapy and advanced molecular imaging in a comfortable, patient-centric outpatient setting. The Company is dedicated to making personalized theranostics cancer treatment and clinical trials accessible to all patients.
For more information about United Theranostics, visit https://unitedtheranostics.com/
Corporate Contact:
Seth Van Voorhees, Ph.D.
Chief Financial Officer
Phone: (800) 898-2650
Email: [email protected]
