ARYx stays afloat with $6.3M bridge loan

Fremont, CA-based ARYx Therapeutics has secured a $6.3 million loan from several existing investors. The first loan gives the company up to $4 million, while an amended agreement with Lighthouse Capital Partners allows approximately $2.3 million of required payments to Lighthouse to be deferred and extended as a new loan commitment to ARYx. The company says that the proceeds from the financing should allow it to perate through the end of 2010. Back in February, ARYx saw licensing...