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Oxford Finance, SVB Close $39.2MM Credit Facility With SI-BONE

November 18, 2015, 07:18 AM
Filed Under: Medical

Oxford Finance and Silicon Valley Bank announced the closing of a credit facility with SI-BONE, Inc. The facility includes a $35.2 million senior secured term loan and a $4 million line of credit. SI-BONE expects to use the funds to accelerate the marketing of its iFuse Implant System for sacroiliac joint fusion surgery.

"Oxford is pleased to provide SI-BONE a growth capital credit facility to support the company's continued expansion," said Christopher A. Herr, senior managing director at Oxford Finance. "We believe there is a substantial market for SI-BONE's innovative iFuse Implant System, which has been successfully evaluated in multiple clinical trials and offers patients a minimally invasive solution to treat certain causes of sacroiliac joint pain."

"We are excited to support SI-BONE as they mature to their next phase of growth," said Shawn Parry, vice president of life science at Silicon Valley Bank. "SI-BONE is driving important medical advancements through its iFuse Implant System for the treatment of certain conditions that can cause lower back pain. It is our objective to provide the SI-BONE team with the right financing, connections and global services that they need to move their business forward quickly."

"This credit facility provides us access to capital as we need it to grow our business," stated Jeffrey Dunn, president and chief executive officer of SI-BONE.  "It also strengthens our balance sheet at an attractive cost of capital.  We are pleased to continue our relationship with Silicon Valley Bank and to initiate a relationship with Oxford."

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 and North Carolina.

For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world.

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