CVRx, Inc., a Minneapolis-based medical device company, secured a $15m debt facility from Silicon Valley Bank.
The company intends to use the funds to continue to invest in the market development and clinical activities required to deliver Barostim Therapy.
Founded in 2001, CVRx has developed the second generation Barostim neo, an implantable system designed to treat hypertension (high blood pressure) and heart failure. Barostim neo received CE marking for the treatment of hypertension in Europe and is under clinical evaluation for the treatment of heart failure in Europe and the United States.
It is under clinical evaluation for the treatment of hypertension in the United States.