MidCap Financial and Silicon Valley Bank expanded a term loan and revolving line of credit for cellular therapy company Vericel.

The agreement provides Vericel with access to up to $20 million that the company will use for general corporate purposes.

As of the quarter ended June 30, 2016, Vericel had an outstanding balance of $2.4 million under an existing agreement with Silicon Valley Bank, which will be replaced by the new facility.

“We are pleased to expand our relationship with Silicon Valley Bank and also to partner with MidCap Financial, and we appreciate their confidence in our business,” said Gerard Michel, Vericel’s CFO and vice president of corporate development.