Nico Corporation, an Indianapolis-based developer and manufacturer of neurosurgery medical devices, received an $8m credit facility.
Square 1 Bank, a division of Pacific Western Bank, provided to debt financing.
The company will use the funds for continued growth and to perform a randomized controlled trial evaluating the clinical effectiveness of early surgical intervention using BrainPath® device following intracerebral hemorrhage.
Founded in 2007, Nico develops BrainPath®, access, tissue removal and tissue preservation technology for minimally disruptive corridor neurosurgery. Specifically, the company’s instruments allow entry into limited-access surgical sites such as cranial, ENT, spinal and otolaryngology areas to treat primary and secondary brain tumors, vascular abnormalities and secondary bleeds.
Launched in 2012, more than 3,000 BrainPath procedures have been performed to date.