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Oxford Finance, Silicon Valley Bank Provide $11MM Facility to CardioFocus

May 02, 2013, 08:04 AM
Filed Under: Life Sciences

Oxford Finance, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced the closing of an $11 million round of debt financing for CardioFocus. The credit facility was awarded to CardioFocus from both Oxford and Silicon Valley Bank. Funds will be used to increase the company's available capital to fund growth, while it expands its international commercialization and completes enrollment in its pivotal trial of the
CardioFocus HEARTLIGHT® Endoscopic Ablation System.

"CardioFocus has had impressive results, treating more than 1,300 patients in Europe and the United States using its cutting-edge technology to treat patients with atrial fibrillation," said Christopher A. Herr , managing director for Oxford Finance. "We are very pleased to provide an additional round of capital to CardioFocus to support the company's continued growth and innovative product development."

"We're a proud partner of CardioFocus, having been with the team since it was just starting out," said Christina Zorzi, vice president of healthcare and life sciences for Silicon Valley Bank. "Today, CardioFocus continues to surpass its ambitious goals with a great team and an important mission to restore the quality of heart patients' lives. We continue to be inspired by their work and are happy to be able to support their efforts."

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. In recent years, Oxford has originated over $2 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts, Illinois and North Carolina.

Silicon Valley Bank is the premier bank for technology, life sciences, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations.

CardioFocus, Inc. is a medical device manufacturer dedicated to advancing ablation treatment for cardiac disorders such as atrial fibrillation (AF). 

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