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Oxford Finance Closes $20MM Debt Facility With Pulmonx

September 18, 2014, 05:42 AM
Filed Under: Medical

Oxford Finance LLC announced the closing of a $20 million senior secured term loan agreement with Pulmonx. Proceeds of the loan will be used to support the company's U.S. clinical trial of its Zephyr Endobronchial Valve used for the treatment of emphysema and to expand its business worldwide.

"Emphysema is a serious disease affecting millions of people globally," said Christopher A. Herr, managing director for Oxford Finance. "Pulmonx's Zephyr Endobronchial Valve is a highly effective therapy for the treatment of this debilitating disease. Oxford is pleased to provide financing to support Pulmonx's ongoing product development and marketing efforts, which will improve the lives of those suffering from emphysema."

"We are delighted to partner with Oxford Finance to support our growth," said Pulmonx chief financial officer Martin Schneider. "Oxford has an outstanding reputation and this venture debt completes our current fundraising. We will continue to invest our capital in Pulmonx's clinical trial and research and development programs, and accelerate the commercialization of our products across the globe."

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina.

Pulmonx, based in Redwood City, California, and Neuchatel, Switzerland, is focused on developing and marketing minimally invasive medical devices and technologies for the diagnosis and treatment of pulmonary disorders.

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