Femasys Secures Term Loan Facility from Silicon Valley Bank

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Jul 09, 2015, 11:27 ET

ATLANTA, July 9, 2015 /PRNewswire/ -- Femasys Inc., a developer of innovative medical devices for the women's healthcare market, announced today that it has secured a term loan facility from Silicon Valley Bank. Under the loan facility, the company received initial funding and a conditional option to receive additional funding. The Company will use the funds for working capital as it supports the advancement of its groundbreaking non-surgical female sterilization device.

"We are pleased to build a relationship with Silicon Valley Bank, a leader in financial services for the healthcare industry. This loan facility will provide greater financial flexibility as we aggressively pursue the regulatory milestones of our highly promising FemBloc™ Permanent Contraceptive System and expansion of commercialization efforts for our novel medical devices," remarked Kathy Lee-Sepsick, President & CEO of Femasys Inc.

"The opportunity to work with innovative medical device companies like Femasys is what excites us on the life science side of the SVB portfolio," said Scott McCarty, Director of Life Science and Healthcare for Silicon Valley Bank's Atlanta office. "We have confidence in the Femasys team and it has been a pleasure working with them throughout the implementation of the loan facility. Our partnership is intended to increase the Company's probability of success as it develops and delivers solutions that are transforming women's healthcare."

ABOUT FEMASYS INC. | www.femasys.com
Femasys Inc., based in Atlanta, GA, is a privately held corporation committed to advancing women's healthcare worldwide by expanding options for women with innovative medical devices and next generation advancements providing significant clinical impact. Additional information about Femasys and the Company's products can be found at www.femasys.com

ABOUT SILICON VALLEY BANK | www.svb.com
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. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America's best banks (2015) and one of America's best-managed companies (2014). Learn more at svb.com.

Silicon Valley Bank is the California bank subsidiary and commercial banking operation of SVB Financial Group (Nasdaq: SIVB), and a member of the FDIC. Silicon Valley Bank and SVB Financial Group are members of the Federal Reserve System.