By Angela McDaniels
Seattle, Nov. 4 - Endocare Inc. said it has secured a $4 million line of credit from Silicon Valley Bank, the primary subsidiary of SVB Financial Group.
"The credit line is a 12-month facility and will be used to provide additional working capital, as needed, to fund the company's growth," said Endocare chief financial officer Michael Rodriguez in a company press release.
Silicon Valley Bank is based in Santa Clara, Calif., and provides financial services to companies in the technology, life science, private equity and premium wine industries.
Endocare is based in Irvine, Calif., where it develops medical devices primarily for tissue and tumor ablation and erectile dysfunction.
| Issuer: | Endocare Inc.
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| Issue: | Line of credit
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| Amount: | $4 million
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| Maturity: | November 2006
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| Lender: | Silicon Valley Bank
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| Announcement date: | Nov. 4
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