Square 1 Bank provided a $7 million credit facility to new client TVA Medical. Proceeds from the facility will help fund ongoing company operations including global clinical and market development initiatives.

Austin, TX-based TVA Medical develops minimally invasive therapies for chronic kidney disease and other medical conditions.

“Three million patients worldwide suffer from chronic kidney failure and need hemodialysis to stay alive. We are excited to work with Square 1 to advance our minimally invasive AV fistula option for these patients globally,” said Adam Berman, president and CEO of TVA Medical.

“The hemodialysis patient population is growing at a rate of over 6% per year,” added Lisa Foussianes, senior vice president in Square 1’s life sciences practice. “The demand for a less-invasive AVF alternative is strong, and the TVA Medical team is dedicated to bringing a viable solution to market. These experienced innovators have developed a device in an ‘undeviced’ market, and Square 1 is excited to be their financial services partner as they continue to develop technology that improves patient outcomes.”