Oxford Finance Closes $3 Million Debt Facility with InterValve
ALEXANDRIA, Va., Jan. 21, 2015 /PRNewswire/ — Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $3 million senior secured term loan agreement with InterValve, Inc. (“InterValve”). Proceeds of the loan will be used for product line expansion and the ongoing commericialization of the company’s lead product, the V8™ Aortic Valvuloplasty Balloon catheter.
“InterValve’s aortic valve dilation device is technologically innovative and has been proven to be a safe and effective solution for treating patients with calcific aortic stenosis,” said Christopher A. Herr, managing director for Oxford Finance. “We are pleased to provide financing to support the growth of the company and the advancement of InterValve’s unique product.”
“We are pleased to be partnering with Oxford,” said Mark Ungs, chief executive officer of InterValve. “This funding will allow us to continue our commercial and development efforts.”