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Square 1 Bank Provides $10MM Facility to TissueTech

May 13, 2015, 07:21 AM
Filed Under: Medical

Square 1 Bank provided a $10 million credit facility to new client TissueTech, Inc., a regenerative tissue-engineering company that provides therapeutic technologies to the ophthalmology, optometry, orthopedic and wound care markets. Proceeds of the credit facility will provide working capital for the company's sales force expansion and pursuit of additional growth opportunities.

TissueTech offers its portfolio of amniotic membrane and umbilical cord-based tissue and device products through its commercial subsidiaries: Bio-Tissue Inc., the industry leader in regenerative biologic therapies and ocular hygiene solutions for the treatment of ocular surface diseases and disorders, and Amniox® Medical Inc., a leading provider of regenerative tissue therapies to the musculoskeletal and wound care markets.

"We are pleased with the completion of this credit facility which will support current and future growth opportunities for TissueTech and its subsidiaries," said Michael T. Cornelius, chief financial officer of TissueTech. "This additional capital will further support our efforts to develop and bring to market innovative, regenerative tissue therapies."

"TissueTech's strong management team and innovative breakthroughs in regenerative wound healing have positioned the company for tremendous success," added Mara Huntington, managing director of Square 1 Bank's East life sciences practice. "We are proud to be the company's banking partner and look forward to supporting its growth for years to come."

Square 1 Bank is a full service commercial bank, dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion.

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