Square 1 Bank Provides Viveve Facility
Square 1 Bank announced it provided a $5 million debt facility to Viveve. Proceeds of the facility will provide working capital to support the company’s future growth.
Patricia Scheller, CEO at Viveve, said, “We value our partnership with Square 1 Bank and greatly appreciate their support. This transaction allows us to drive future growth and maintain our focus on building the global market for the treatment of vaginal introital laxity.”
“This term loan strengthens the company’s balance sheet, reduces our overall cost of capital and provides critical funds to support our current development and commercial efforts. We’re pleased to have a long-term partner in Square 1 Bank,” added Scott Durbin, Viveve’s CFO.
Ben Colombo, SVP in Square 1 Bank’s life sciences practice, said, “We are excited to launch this partnership with Viveve and 5AM Ventures. Square 1 is extremely impressed with Viveve’s leadership team and the technological advances the company has made in women’s health. We look forward to growing this relationship for years to come.”
Located in Sunnyvale, CA, Viveve is a women’s health company passionately committed to advancing new solutions to improve women’s overall well-being and quality of life.