SIVBE Svb Financial Grp. (MM)

IRVINE, Calif., Nov. 4 /PRNewswire-FirstCall/ -- Endocare, Inc. (OTC:ENDO) (BULLETIN BOARD: ENDO) , an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation along with vacuum technologies for erectile dysfunction, announced today that it has secured a $4 million line of credit from Silicon Valley Bank, the primary subsidiary of SVB Financial Group (NASDAQ:SIVBE). Endocare has also chosen Silicon Valley Bank as its primary financial services provider. "The credit line is a 12 month facility and will be used to provide additional working capital, as needed, to fund the Company's growth," said Endocare CFO Michael Rodriguez. "We are pleased to be expanding our relationship with Silicon Valley Bank, a respected and established provider of banking services." "We have maintained a relationship with Endocare since 1995 and we're pleased to expand our relationship with the Company through this new working capital facility," said Richard Shuttleworth, senior relationship manager, Silicon Valley Bank. "Silicon Valley Bank has worked with technology and life science companies like Endocare for over 20 years and we strive to provide them with the creative solutions and diversified financial services they need to reach their business goals." About Silicon Valley Bank Silicon Valley Bank provides diversified financial services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 domestic offices and two international subsidiaries in the U.K. and India. More information on the company can be found at http://www.svb.com/. About Endocare Endocare, Inc. -- http://www.endocare.com/ -- is an innovative medical device company focused on the development of minimally invasive technologies for tissue and tumor ablation as well as vacuum technologies for erectile dysfunction. Endocare has initially concentrated on developing technologies for the treatment of prostate cancer and believes that its proprietary technologies have broad applications across a number of markets, including the ablation of tumors in the kidney, lung, liver and bone. Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those discussed in "Risk Related to Our Business" in the Company's Forms 10-K, Forms 10-Q, and other filings with the Securities and Exchange Commission. Such risk factors include, but are not limited to: uncertainty relating to ongoing investigations by governmental agencies; uncertainty regarding the effects of effectuating the proposed reverse stock split, in particular the possibility that the market may react negatively to our effectuation of a reverse stock split; uncertainty regarding market acceptance of the Company's products; uncertainty of product development and the associated risks related to clinical trials; uncertainty relating to third party reimbursement; ability to convince health care professionals and third party payers of the medical and economic benefits of the Company's products; difficulty in managing growth; the Company's limited sales, marketing and manufacturing experience; ability to attract and retain key personnel; ability to secure and protect intellectual property rights relating to the Company's technology; the rapid pace of technological change in the Company's industry; fluctuations in the Company's order levels; and the Company's successful re-listing on a national stock exchange. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise, or update publicly, any forward-looking statements for any reason. Investor Contact: Matt Clawson Allen & Caron, Inc. (949) 474-4300 http://www.allencaron.com/ Media Contact: Len Hall Allen & Caron, Inc. (949) 474-4300 http://www.allencaron.com/ For Additional Information: Craig T. Davenport, CEO Michael R. Rodriguez, CFO Endocare, Inc. (949) 450-5400 http://www.endocare.com/ DATASOURCE: Endocare, Inc. CONTACT: Investors, Matt Clawson, , or Media, Len Hall, , both of Allen & Caron, Inc., +1-949-474-4300, for Endocare, Inc.; or Craig T. Davenport, CEO, or Michael R. Rodriguez, CFO, both of Endocare, Inc., +1-949-450-5400 Web site: http://www.svb.com/ Web site: http://www.endocare.com/

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