MENLO PARK, Calif., May 8, 2012 (GLOBE NEWSWIRE) -- Square 1 Bank, the exclusive banking partner to entrepreneurs and the venture capital community, is pleased to provide a $5 million debt facility to iScience Interventional, Inc., a medical device company specializing in the discovery and development of interventional therapies and procedures targeting ophthalmic diseases.
"iScience is excited to have Square 1 Bank as a partner in providing a wealth of financial services to support our mission," said Mike Nash, iScience CEO.
James Branski, iScience CFO added, "The team at Square 1 Bank provided the optimal debt facility to fund our distribution expansion plan and support future product platforms for restoring sight to our patients. They executed flawlessly and expeditiously as we transitioned our financial services to Square 1 Bank."
"iScience is developing game changing technologies that could redefine the standard of care for patients dealing with ocular disease," commented Scott Foote, SVP and Managing Director of Square 1 Bank's Life Sciences West division. "With their impressive investors and pioneering developments, we're pleased to add iScience to the roster of innovative companies banking with Square 1."
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 provide solid support for its clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. To serve its relationships, Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more information, visit www.square1bank.com.
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About iScience Interventional
Founded in 1999 with headquarters in Menlo Park, California, iScience Interventional™ is a science, technology, and patient outcome-driven medical device company that specializes in the development of leading-edge, interventional therapies and procedures for ophthalmic diseases. Our mission is to research, discover, and develop technologies that enable ophthalmologists to advance how eye diseases are addressed and managed. iScience Interventional™ was the first company to develop microcatheter and high-resolution imaging systems that enable ophthalmologists to perform true site-specific therapy