Sunshine Heart announced it has exercised the right to borrow an additional $2 million under its existing loan and security agreement with Silicon Valley Bank.

The right to borrow this second tranche was conditioned on the U.S. Food and Drug Administration granting interim analysis of COUNTER HF, the company’s study for the C-Pulse Heart Assist System, which was obtained in February 2015. COUNTER HF is a prospective, randomized, multi-center, controlled study evaluating the safety and efficacy of the C-Pulse system for the treatment of NYHA Class III and ambulatory class IV heart failure.

“We view Silicon Valley Bank as a valued partner, providing non-dilutive capital at an important time in the Company’s growth trajectory as we continue to advance physician involvement and patient enrollment in the COUNTER HF and OPTIONS HF studies,” commented Dave Rosa, president and chief executive officer of Sunshine Heart.