Novasys gets $8 million in financing from Hercules

By Elaine Rigoli

Tampa, Fla., Aug. 10 - Novasys Medical, Inc. announced that it received $8 million of debt financing from Hercules Technology Growth Capital, Inc.

Novasys Medical recently launched its first Food and Drug Administration-cleared product, the Renessa System, a proprietary, non-surgical treatment for female stress urinary incontinence.

The company said this product offers women and their physicians a non-incisional treatment that can be performed in a physician's office or other outpatient setting, presenting an alternative to patients who do not want surgery.

Based in Palo Alto, Calif., Hercules is a finance company providing debt and equity growth capital to technology-related companies at all stages of development.

Based in Newark, Calif., Novasys is a privately held company that develops therapies in women's health.

Issuer: Novasys Medical, Inc.

Issue: Debt financing

Amount: $8 million

Investors: Hercules Technology Growth Capital, Inc.

Announcement date: Aug. 10

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