Castle Biosciences prepays full $21.6 million on term loan

By Taylor Fox

New York, Dec. 22 – Castle Biosciences, Inc. prepaid in full its outstanding term loan facility with Oxford Finance, LLC and Silicon Valley Bank, according to a news release.

Castle Biosciences paid $21.6 million including pay-off amounts for principal, interest, fees, reimbursement of expenses and other items.

“Full prepayment of our outstanding debt signifies another step in fortifying our balance sheet,” said Castle Biosciences president and chief executive officer, Derek Maetzold in the release.

The prepayment will result in a net cash savings to the company and terminates all commitments and obligations under the loan agreement.

Castle Biosciences is a skin cancer diagnostics company based in Friendswood, Texas.

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