Aspire Bariatrics closed on up to $12 million in venture debt financing with Hercules Technology Growth Capital. The financing will support the continuation of the company’s PATHWAY pivotal trial in the U.S. and pre-market application filing, expected in mid-2015. The financing will also support ongoing post-market studies for the device, which is currently approved for commercial sale in Europe.

“We are very pleased to enter into this financing agreement with Hercules, a leading specialty finance company in the health care sector, said Kathy Crothall, CEO and President of Aspire Bariatrics. “With access to this capital, Aspire is well-poised to file for FDA approval of the AspireAssist in the United States in mid-2015, with anticipated US market entry in early 2016.”

Aspire is a commercial-stage medical device company committed to providing safe and effective treatments for obesity to patients worldwide.