Navigation Links
Aviir Diagnostic Laboratories Secures $8 Million In Funding From Silicon Valley Bank
Date:9/18/2012

IRVINE, Calif., Sept. 19, 2012 /PRNewswire/ -- Aviir Inc., a biotechnology company dedicated to the prevention of cardiovascular disease through innovative laboratory tests, announced today that it has secured $5 million in growth debt capital and a $3 million line of credit on receivables from Silicon Valley Bank to accelerate commercialization activities and infrastructure build-out for its cardiac risk assessment portfolio of laboratory tests targeted at fostering cardiac disease prevention.

"This loan strengthens our financial position in conjunction with our December 2012 capital financing of up to $30 million led by Merck GHI and gives us the ability to focus on commercialization and market penetration," said Douglas Harrington, MD, CEO of Aviir. "We greatly value our relationship with Silicon Valley Bank and we are confident of executing our plan to bring our proprietary cardiac risk and inherited cardiovascular disease disorder assays to market to improve healthcare and enable preventive strategies based on Aviir's critical and unique information."

"It's our mission to help innovative life science companies, like Aviir, succeed," said Robert Anderson, Senior Relationship Manager with Silicon Valley Bank.  "We make every effort to provide the expertise and financing our clients need as they grow and develop solutions for critical medial concerns. In the case of Aviir, its strong leadership team and pioneering technology is identifying people who may be at risk of cardiac failure, which is exactly the profile of cutting-edge technology and innovation that make a relationship between SVB and our clients so rewarding."

About Silicon Valley Bank 
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 U.S. offices and seven international operations. (NASDAQ: SIVB) www.svb.com. Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Private Bank is a division of Silicon Valley Bank. SVB Financial Group is also a member of the Federal Reserve System.

About Aviir
Aviir was founded in 2005 by cardiologists and scientists from the Stanford University School of Medicine to focus on discovery, development and commercialization of innovative diagnostic tests. The biotechnology company specializes in developing proprietary diagnostic tests that will assist in identifying patients that are truly at high risk for the development of a cardiac event.  Aviir's proprietary MIRisk and TruRisk assessments objectively identify, by a simple blood draw, individuals who are at a high risk of a cardiac event over the next five years.  Aviir's CLIA laboratory (Irvine, CA) complements these novel tests with a wide range of additional tests for risk assessment and therapeutic monitoring of cardiovascular disease and related metabolic disorders – including pharmacogenomic and genetic tests. The company has adopted a unique clinical laboratory service model to provide physicians better diagnostic tools that improve cardiovascular health of their patients. The company is privately owned and funded by leading life science venture capital firms. Please visit www.aviir.com for more information.

For media inquiries, please contact:
Dina Scaglione
(949)910-9401
dina.scaglione@aviir.com


'/>"/>
SOURCE Aviir Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Aviir Laboratories Announce National Agreement with Stratose
2. Aviir Laboratories Announce National Agreement with Three Rivers Provider Network
3. Aviir Laboratories Announce National Agreement With MultiPlan
4. Aviir Diagnostics Laboratory in Collaboration with Cause;ology Sponsors "Storyland," a Red Carpet Charity Extravaganza in Hollywood
5. Medical Diagnostic Laboratories, L.L.C. Announces a Complimentary Reflex Test to Determine Azithromycin Resistance in Chlamydia Trachomatis
6. Epigenomics, Present and Future Applications for Pharmaceuticals and Diagnostics: Twease.org
7. Frost & Sullivan: Asia Pacific Infectious Disease Diagnostics Market Grows as Economies Boom and Countries Become Image Conscious
8. Advanced Animal Diagnostics Adds Sales & Marketing Leadership
9. In Vitro Diagnostics (IVD) - Emerging Countries (Brazil, Russia, India, China) Opportunity Assessment, Competitive Landscape and Market Forecasts to 2018
10. Frost & Sullivan Presents 2012 Clinical Diagnostics Company of the Year Award to GenPath Diagnostics of BioReference Laboratories, Inc.
11. Comprehensive Resource for Food Safety Diagnostics – Romer Labs Launches New Website
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... Austin, TX (PRWEB) , ... October 11, 2017 ... ... in August compared the implantation and pregnancy rates in frozen and fresh ... the contribution of progesterone and maternal age to IVF success. , After comparing ...
(Date:10/10/2017)... ... ... Dr. Bob Harman, founder and CEO of VetStem Biopharma, Inc. ... event entitled “Stem Cells and Their Regenerative Powers,” was held on August 31st, ... was joined by two human doctors: Peter B. Hanson, M.D., Chief of Orthopedic Surgery, ...
(Date:10/9/2017)... DIEGO , Oct. 9, 2017  BioTech ... biological mechanism by which its ProCell stem cell ... critical limb ischemia.  The Company, demonstrated that treatment ... amount of limbs saved as compared to standard ... the molecule HGF resulted in reduction of therapeutic ...
(Date:10/7/2017)... , ... October 06, 2017 ... ... experience providing advanced instruments and applications consulting for microscopy and surface analysis, ... in application consulting, Nanoscience Analytical offers a broad range of contract analysis ...
Breaking Biology Technology:
(Date:7/20/2017)... WASHINGTON , July 20, 2017 Delta (NYSE: ... to board any Delta aircraft at Reagan Washington National Airport (DCA). ... Delta launches biometrics ... Delta,s ... Delta Sky Club is now integrated into the boarding process to ...
(Date:5/16/2017)... , May 16, 2017  Veratad Technologies, LLC ( ... online age and identity verification solutions, announced today they ... Conference 2017, May 15 thru May 17, 2017, in ... and International Trade Center. Identity impacts ... and in today,s quickly evolving digital world, defining identity ...
(Date:4/18/2017)... , April 18, 2017  Socionext Inc., a global expert ... a media edge server, the M820, which features the company,s hybrid ... software provided by Tera Probe, Inc., will be showcased during the ... the NAB show at the Las Vegas ... ...
Breaking Biology News(10 mins):