SVB Closes Sensory NeuroStimulation Facility
Sensory NeuroStimulation, makers of the Relaxis device for treating Restless Legs Syndrome, has entered into a new credit agreement with Silicon Valley Bank.
The $1.5 million credit facility will support the company’s ongoing operations as it launches its breakthrough Relaxis system, the first and only FDA-cleared, non-pharmacologic solution for improving the quality of sleep in patients with primary RLS, a progressive neurological condition also known as Willis-Ekbom Disease. The Relaxis device was designed to provide physical relief of RLS symptoms through the use of vibratory counter-stimulation, and is available on a prescription-only basis in the U.S.
“We are pleased to have achieved this important corporate milestone, which will help us make Relaxis available to the millions of patients suffering from Restless Legs Syndrome across the nation,” said company Chairman and Relaxis inventor Fred Burbank, M.D.
“It is our pleasure to work with Sensory NeuroStimulation, and other innovative companies around the world that are bringing important medical advancements to the healthcare market,” said Brett Maver, director of Silicon Valley Bank in Irvine. “Our goal is to help the Sensory NeuroStimulation team move its business forward quickly with the right financing, connections and global services it needs as the company matures to its next phase of growth.”
San Clemente, CA-based Sensory NeuroStimulation, dba Relaxis, developed the pioneering Relaxis system, which is the first FDA-cleared, non-pharmacologic solution for improving the quality of sleep in patients with primary RLS.