Aviar Inc. Biotechnology company dedicated to the prevention of cardiovascular disease through innovative laboratory tests announced today that it has secured $5 million in growth debt capital and a $3 million line of loans from Silicon Valley Bank to accelerate the commercialization and infrastructure development of its risk assessment portfolio of laboratory tests.
“This loan strengthens our financial position in conjunction with our December 2012 capital financing of up to $30 million led by Merck GHI and gives us the ability to focus on marketing and market penetration,” said Douglas Harrington, MD, CEO of Aviir. “We greatly value our relationship with Silicon Valley Bank and are confident that we will carry out our plan to market our proprietary cardiac risk and inherited cardiovascular disease tests to improve healthcare and enable preventive strategies based on Aviir’s critical and unique information. “That’s right.
“It’s our mission to help innovative life science companies, such as Aviir, succeed,” said Robert Anderson, Senior Relationship Manager at Silicon Valley Bank. “We make every effort to provide the expertise and funding needed by our clients as they grow and develop solutions to critical media concerns. In the case of Aviir, its strong leadership team and pioneering technology is identifying people who may be at risk of heart failure, which is precisely the profile of state-of-the-art technology and innovation that makes the relationship between SVB and our clients so rewarding. “That’s right.
About the Bank of Silicon Valley
Silicon Valley Bank is the leading bank for technology, life science, clean technology, venture capital, private equity and premium wine companies. SVB provides industry knowledge and connections, finance, treasury management, corporate investment and international banking services to its clients worldwide through 27 U. Oh, S Seven international offices and operations (NASDAQ: SIVB)