MassDevelopment has provided an $800,000 Emerging Technology Fund Term (ETF) working capital loan to CryoXtract Instruments, a Woburn company that develops and commercializes automated lab solutions that help protect frozen biological samples to aid advancements in molecular medicine and biomarker discovery.

MassDevelopment said in a statement that the new use of the ETF addresses staffing and other working capital needs for growing emerging technology companies to increase both employment and production. Loan proceeds will help expedite CryoXtract’s commercialization efforts and support the company’s planned expansion, adding several engineering, marketing, manufacturing, and administration jobs over the next 18 months, according to MassBio.

“CryoXtract combines two of the commonwealth’s most vibrant industries: the life sciences and advanced manufacturing,” MassDevelopment President and CEO Marty Jones said in a statement. “Through the Emerging Technology Fund, MassDevelopment is pleased to support innovations and new jobs at these cutting-edge businesses.”

MassDevelopment is the state’s finance and development agency.