ALEXANDRIA, Va., July 10, 2012 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced it closed a $10 million debt facility with LensAR, Inc. Proceeds of the loan will be used for the commercialization of the company's latest generation LensAR™ Laser System, which recently received FDA clearance.
"Oxford is impressed with the LensAR™ Laser System, and even prior to the FDA's clearance, the market demand for the product was quite promising," said Christopher A. Herr, managing director for Oxford Finance. "We are very pleased to provide capital to LensAR to support the launch of its product, which we believe will further advance the effectiveness of laser cataract surgery."
"Now that LensAR has received the 510K clearance on our commercial laser system, we are moving very quickly into the commercial launch stage," said Nick Curtis, chief executive officer of LensAR. "We are very pleased that Oxford Finance recognized the opportunity and is partnering with us to provide critical capital for the ramp up of production to meet the large and growing demand for our LensAR™ Laser System."
About Oxford Finance LLC
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 $1.5 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. For more information visit www.oxfordfinance.com.
About LensAR, Inc.
LensAR Inc. is a leader in the development and commercialization of a next generation laser and advanced 3D imaging technology for a refractive cataract surgery. LensAR has treated more than 700 eyes outside the United States to date. For more information please visit www.lensar.com.
SOURCE Oxford Finance LLC