Square 1 Bank provided a $5 million credit facility to new client Zenflow, a privately-held urologic medical device company.
Proceeds from the facility will support short-term and long-term growth initiatives.
Headquartered in San Francisco, Zenflow was founded by a team of Stanford University Biodesign Fellows to develop a patient-focused approach to treat the symptoms of benign prostatic hyperplasia (BPH). Through the company’s Spring System, patients experiencing BPH symptoms can undergo treatment in a simple procedure in an urologist’s office.
“We are excited to have Square 1’s confidence in our team and technology as we take the next steps in Zenflow’s journey,” said Nick Damiano, co-founder and CEO of Zenflow. “This credit facility will help us execute on our clinical studies, secure regulatory approval, and fulfill our mission of improving quality of life for the many millions of men suffering from BPH symptoms.”
“Zenflow’s founders, Nick Damiano and Shreya Mehta, are great examples of medical device entrepreneurs that are advancing emerging technologies which simultaneously improve patient outcomes and reduce costs,” added JC Simbana, senior vice president of Square 1’s Life Sciences practice. “Nick and Shreya have built a talented team that is motivated to make a real impact on patients’ lives. We are pleased to serve as Zenflow’s financial services partner and support its mission to treat symptoms of benign prostatic hyperplasia.”
