Square 1 Bank provided an $8 million credit facility to new client NICO, an Indianapolis-based developer and manufacturer of neurosurgery medical devices.

The facility funds will be used to support the company’s continued growth and to perform a randomized controlled trial evaluating the clinical effectiveness of early surgical intervention using NICO’s BrainPath device following intracerebral hemorrhage, the deadliest, most costly and debilitating form of stroke.

Jay McNeil, managing director of Square 1’s Life Sciences practice in the Midwest, said, “The NICO team has a proven track record in developing medical devices and minimally invasive surgical instruments. We are excited about the impact NICO’s technology will have on surgical outcomes, and we look forward to serving as their financial partner every step of the way.”