19 January 2012 - Vitae Pharmaceuticals, US-based biopharmaceutical company focusing on small molecule compounds in the fields of chronic kidney disease, diabetes, atherosclerosis and Alzheimer's disease, has secured a USD15m (EUR11.7m) debt financing from Oxford Finance LLC and Silicon Valley Bank.

The financing will be used to further advance Vitae's drug pipeline.

Tina Fiumenero, Vitae CFO, said that the funds generated in this round of debt financing will strengthen the company's financial position and will provide more financial flexibility for Vitae.

(USD1 = EUR0.778)