BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

CardioFocus Inc. Secures $5M Credit Facility with Silicon Valley Bank


3/21/2011 7:35:57 AM

BOSTON, March 21, 2011 /PRNewswire/ -- CardioFocus, a venture capital-backed medical device company developing technology to treat cardiac disorders, has secured $5M in debt financing from Silicon Valley Bank, financial partner to technology and life science companies of all sizes worldwide. CardioFocus will use the new financing to initiate its pivotal trial in the United States and to expand the commercialization of its products in Europe.

(Logo: http://photos.prnewswire.com/prnh/20100106/SF32918LOGO)

CardioFocus is dedicated to improving treatments for patients suffering from atrial fibrillation. With its Endoscopic Ablation System, CardioFocus is allowing physicians to truly visualize complex cardiac anatomy in living color for the first time and perform a transcatheter procedure to treat the millions of people worldwide affected by this cardiac disorder.

"Silicon Valley Bank has been a trusted financial partner that understands our business imperatives and the progression of our technological and clinical accomplishments as we've grown," said Stephen W. Sagon, President and CEO of CardioFocus. "Now that we are in critical phases of commercialization and global expansion, we appreciate SVB's ability to provide the financing and global banking services we need to continue to grow."

"CardioFocus has been a client since it was just starting out," said Michael Hanewich, head of life sciences for Silicon Valley Bank's Eastern Division. "We exist to help life science companies as they develop amazing medical advances and bring them to market. We are a proud partner of CardioFocus and are excited to support their efforts as they expand their commercialization in Europe and seek FDA approval in the U.S."

Silicon Valley Bank's experienced life science bankers offer a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide.

About CardioFocus

More information about CardioFocus can be found at http://www.cardiofocus.com/index.html.

About Silicon Valley Bank

Silicon Valley Bank provides commercial bankingservices to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.

Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

SOURCE Silicon Valley Bank



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES