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."
About Organogenesis
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/.
©2017 SVB Financial Group. All rights reserved. SVB, SVB
FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the
chevron device are trademarks of SVB Financial Group, used under
license. Silicon Valley Bank is a member of the FDIC and the
Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial
Group (Nasdaq: SIVB).
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SOURCE Silicon Valley Bank