Oxford Finance and Silicon Valley Bank announced the closing of a credit facility with SI-BONE. The facility includes a $35.2 million senior secured term loan and a $4 million line of credit. SI-BONE expects to use the funds to accelerate the marketing of its iFuse Implant System for sacroiliac joint fusion surgery.

“Oxford is pleased to provide SI-BONE a growth capital credit facility to support the company’s continued expansion,” said Christopher A. Herr, senior managing director at Oxford Finance. “We believe there is a substantial market for SI-BONE’s innovative iFuse Implant System, which has been successfully evaluated in multiple clinical trials and offers patients a minimally invasive solution to treat certain causes of sacroiliac joint pain.”

“We are excited to support SI-BONE as they mature to their next phase of growth,” said Shawn Parry, vice president of life science at Silicon Valley Bank. “SI-BONE is driving important medical advancements through its iFuse Implant System for the treatment of certain conditions that can cause lower back pain. It is our objective to provide the SI-BONE team with the right financing, connections and global services that they need to move their business forward quickly.”

“This credit facility provides us access to capital as we need it to grow our business,” stated Jeffrey Dunn, president and chief executive officer of SI-BONE. “It also strengthens our balance sheet at an attractive cost of capital. We are pleased to continue our relationship with Silicon Valley Bank and to initiate a relationship with Oxford.”

San Jose, CA-based SI-BONE is a sacroiliac joint medical device company dedicated to the development of tools and products for patients with low back issues related to certain SI joint disorders.