Square 1 Bank, a division of Pacific Western Bank, provided a $10 million credit facility to new client Zavante Therapeutics, a clinical-stage biotechnology company. Proceeds from the facility will provide growth capital to support commercialization efforts and the potential development of additional indications.

Headquartered in San Diego, Zavante develops and commercializes therapeutics to address serious unmet medical needs in hospitalized patients.

“We are extremely pleased to have Square 1 as our banking partner and extend the strong financial relationship base that we have formed with our existing venture capital investors. The closing of this credit facility supports our goals of filing a New Drug Application, or NDA, for ZTI-01 with the U.S. Food and Drug Administration in the second half of 2017 and preparing for commercialization,” said Ted Schroeder, founder, president and chief executive officer of Zavante.