Standard Bariatrics, a Cincinnati, OH-based medical device company, raised $7M in debt financing.
Silicon Valley Bank provided the funding. The debt facility provides $7 million in term loans of which the first $4 million was funded at closing.
The company intends to use the funds to accelerate commercial efforts for the Titan SGS® surgical stapler and related proprietary medical devices designed for bariatric surgery.
Led by CEO Peter Donato, Standard Bariatrics is a medical device company focused on the development and commercialization of products for the surgical treatment of obesity. Driven by a group of surgical, the organization works hand in hand with bariatric surgeons to develop and release solutions designed to address the growing global epidemic of obesity. Cleared by the U.S. Food and Drug Administration (FDA) a year ago on April 28, 2021, the Titan SGS surgical stapler meets the new stringent Class II product regulations for surgical staplers.
Standard Bariatrics is supported through early investment from Jobs Ohio, North Coast Angel Fund, Accelerant, Queen City Angels, CincyTech, Series A lead investors RiverVest®, Hatteras Venture Partners and Emergent Medical Partners, and Series B investors U.S. Venture Partners (USVP) and RC Capital.
FinSMEs
10/05/2022