Square 1 Bank Announces Credit Facility to TissueTech(TM), Inc.
12 May 2015 - 11:00PM
Square 1 Bank, the premier banking partner to entrepreneurs and the
venture capital community, announced today that it has provided a
$10 million credit facility to new client TissueTech™, Inc., a
regenerative tissue-engineering company that provides therapeutic
technologies to the ophthalmology, optometry, orthopedic and wound
care markets. Proceeds of the credit facility will provide working
capital for the Company's sales force expansion and pursuit of
additional growth opportunities.
TissueTech™ offers its portfolio of amniotic membrane and
umbilical cord-based tissue and device products through its
commercial subsidiaries: Bio-Tissue® Inc., the industry leader in
regenerative biologic therapies and ocular hygiene solutions for
the treatment of ocular surface diseases and disorders, and Amniox®
Medical Inc., a leading provider of regenerative tissue therapies
to the musculoskeletal and wound care markets.
"We are pleased with the completion of this credit facility
which will support current and future growth opportunities for
TissueTech and its subsidiaries," said Michael T. Cornelius, chief
financial officer of TissueTech™. "This additional capital will
further support our efforts to develop and bring to market
innovative, regenerative tissue therapies."
"TissueTech's strong management team and innovative
breakthroughs in regenerative wound healing have positioned the
company for tremendous success," added Mara Huntington, managing
director of Square 1 Bank's East life sciences practice. "We are
proud to be the company's banking partner and look forward to
supporting its growth for years to come."
About Square 1 Bank
Square 1 Bank is a full service commercial bank, dedicated
exclusively to serving the financial needs of the venture capital
community and entrepreneurs in all stages of growth and expansion.
Square 1's expertise, focus and strong capital base provides
flexible resources and unmatched support to meet our clients'
needs. Square 1 has offices coast-to-coast in Austin, the Bay Area,
Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New
York, San Diego, Seattle and Washington, DC. For more information,
visit www.square1bank.com.
About TissueTech
TissueTech™, Inc. is a leader in regenerative amniotic
tissue-based products for use in the ophthalmology, optometry,
musculoskeletal and wound care markets. The National Institute of
Health (NIH) has supported research by TissueTech™ with more than
25 continuous years of research grants. Since its inception in
2001, over 170,000 human implants have been conducted using the
Company's proprietary CryoTek® method and 300 peer-reviewed
scientific publications have been produced supporting the
technology platform. The Company has pioneered the clinical
application of human amniotic membrane and its role in stem cell
research. The Company's first product, AmnioGraft®, is the only
tissue graft designated by the Food and Drug Administration (FDA)
as homologous for promoting ophthalmic wound healing while
suppressing scarring and inflammation.
CONTACT: Media Contact:
Square 1 Bank
Dee McDougal
919.597.7479
dmcdougal@square1bank.com
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