Sensory NeuroStimulation establishes credit facility with Silicon Valley Bank.
BANKING AND CREDIT NEWS-January 15, 2015-Sensory NeuroStimulation establishes credit facility with Silicon Valley Bank
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Sensory NeuroStimulation, Inc. said it has entered into a USD1.5 million credit agreement with Silicon Valley Bank.
The new credit facility will support the company's ongoing operations as it launches its Relaxis system, a non-pharmacologic solution for improving the quality of sleep in patients with primary restless leg syndrome (RLS), a progressive neurological condition also known as Willis-Ekbom Disease (WED). The Relaxis device was designed to provide physical relief of RLS symptoms through the use of vibratory counterstimulation, and is available on a prescription-only basis in the US.
Sensory NeuroStimulation, Inc., dba Relaxis, is based in San Clemente, Calif., and is a privately held company was formed in 2009 after the company's Chairman, Fred Burbank, M.D., began experiencing RLS and solutions other than medication to relieve the condition's symptoms. Additional information about the company and its technologies is available at www.MyRelaxis.com.
With USD36 billion in assets and more than 1,800 employees, Silicon Valley Bank provides commercial, international and private banking. For more, visit www.svb.com.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jan 15, 2015|
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