ISTA Pharmaceuticals obtains $10 million revolver

By E. Janene Geiss

Philadelphia, Dec. 22 - ISTA Pharmaceuticals, Inc. entered into an agreement Thursday for a $10 million revolving credit line with Silicon Valley Bank.

Borrowings under the facility carry interest at Libor plus 250 basis points, payable monthly, according to a 8-K filing with the Securities and Exchange Commission.

The loan is due Jan. 31, 2007, the filing said.

ISTA is an Irvine, Calif., specialty pharmaceutical company focused on the development and commercialization of novel and improved ophthalmic products.

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