ALEXANDRIA, Va., Jan. 28, 2016 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of an $8 million senior secured term loan with BiO2 Medical, Inc. ("the Company"). The funds are being used to support the Company as it awaits FDA clearance for its Angel® Catheter, and for the anticipated U.S. commercial launch of this product in mid-2016.
The Company is headquartered in San Antonio, Texas, and the R&D and manufacturing facility is located in Golden, Colorado. BiO2 Medical is currently focused on its flagship product, the Angel® Catheter, a unique medical device designed to give physicians the control to provide temporary, prophylactic pulmonary embolism protection at the patient's bedside.
"Oxford is pleased to provide financial support to BiO2 Medical, a well-managed and innovative company," said Christopher A. Herr, senior managing director at Oxford Finance. "The Company has developed a differentiated product with distinct advantages over existing inferior vena cava filters currently available for the treatment of pulmonary embolisms."
BiO2 Medical's chairman and chief executive officer, Christopher E. Banas, stated, "With this equity and venture debt capital secured, we are on the path to commercializing the Angel® Catheter in the U.S. We anticipate providing pulmonary embolism prophylaxis to over one million patients who are at high risk of pulmonary embolism and are ineligible for existing venous thromboembolism prevention."
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 $3 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 information visit www.oxfordfinance.com.
About BIO2 Medical
BiO2 Medical was founded in December 2006 by Luis F. Angel, MD, Christopher E. Banas, and Paul Castella, PhD. The Company was formed to design, develop and, subsequently, manufacture a range of products in response to unmet clinical needs. BiO2 Medical has grown into a commercial organization, with offices in San Antonio, Texas; Golden, Colorado; and London, UK. In addition to commercialization efforts for the Angel® Catheter, BiO2 Medical continues to focus on its robust intellectual property portfolio and future product roadmap, which will continue to support the development of novel medical devices. For more information, visit www.bio2medical.com.
SOURCE Oxford Finance LLC