Respicardia, Inc., a near Minneapolis, Minnesota-based early stage company developing a medical device targeted to improve respiratory and cardiovascular health by treating central sleep apnea, has received a $6m senior secured credit facility from Ares Capital Corporation (NASDAQ: ARCC).
The company intends to use the proceeds for working capital to complete its pilot study. Respicardia is in the clinical trial phase of the development of its remedē® System, an implantable stimulation device that is designed to restore a more natural breathing pattern during sleep in patients with central sleep apnea, a widespread sleep disorder characterized by a lack of respiratory effort by the diaphragm and associated with a higher rate of ventricular arrhythmias.
Founded in 2006 and led by Bonnie Labosky, President and CEO, the company is backed by life sciences-focused venture capital firms including Three Arch Partners, Versant Ventures, Polaris Ventures Partners, Accuitive Medical Ventures and Affinity Capital Management.
FinSMEs
06/08/2012