CANTON, Mass., April 10, 2017 /PRNewswire/ -- Organogenesis Inc., a commercial leader in the field of regenerative medicine focusing on advanced wound care and surgical biologics, has entered into a revolving line of credit agreement with Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors. This agreement provides $25 million of new capital to the company to be used for working capital and general corporate purposes.
"The people of Silicon Valley Bank are not only excellent bankers, but what sets them apart is they also understand business. We at Organogenesis are looking forward to building a strong, long-term relationship," said Tim Cunningham, Chief Financial Officer of Organogenesis Inc.
"Organogenesis is a pioneer in the field of regenerative medicine," said Kevin Longo, Director, Northeast Head of Medical Device and Digital Health, Silicon Valley Bank. "We're pleased to work with the Organogenesis team to provide the best financing, connections and global services they need to meet their corporate objectives."
Originally founded as a spin-off from technology developed at MIT in 1985, Massachusetts-based Organogenesis Inc. is a global leader in regenerative medicine, offering a portfolio of bioactive and acellular biomaterials products for advanced wound care, orthopedics and spine. Organogenesis' versatile portfolio is designed to treat a variety of patients with repair and regenerative needs. For more information, visit www.organogenesis.com.
About Silicon Valley Bank
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.
The Life Science and Healthcare Division of Silicon Valley Bank delivers specialized solutions and market expertise in the areas of biopharma, medical device, tools and diagnostics, digital health and healthcare services, with a focus on helping companies move their bold ideas forward, fast. Learn more at svb.com/life-sciences-healthcare/.
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SOURCE Silicon Valley Bank