AirXpanders Receives $7M Credit Facility from GE Capital

AirXpanders, a Palo Alto, Calif.-based tissue-expansion company that focuses on breast cancer reconstruction, received a $7m credit facility from GE Capital.

The company is developing an alternative technology for women who require tissue expansion for breast reconstruction following a mastectomy. It intends to use the funds for product development needs. They will be used primarily to fund the completion of the U.S. clinical trial and implement semi-automation into the AeroForm manufacturing process to increase throughput as the company seeks to file for 510(k) clearance in the U.S.
Outside the U.S., AirXpanders will initiate a limited market release in Australia, following Australian Therapeutic Goods Administration (TGA) approval in November 2013, in addition to conducting a key opinion leader assessment in Europe.

Ld by Scott Dodson, president and chief executive officer, AirXpanders has developed AeroForm, an injection-free, patient-controlled tissue expansion system under investigation in the United States.
The company is backed by Vivo Ventures, GBS Venture Partners, Prolog Ventures, Heron Capital and Shalon Ventures.



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