Navigation Links
Oxford Finance Provides $3 Million Growth Capital Loan to Avantis Medical Systems
Date:11/9/2011

ALEXANDRIA, Va., Nov. 9, 2011 /PRNewswire/ -- Oxford Finance LLC ("Oxford"), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced that it closed a $3 million senior secured term loan with Avantis Medical Systems, Inc. Proceeds of the loan are being used for working capital and to support the Company's ongoing launch of its FDA-cleared product, Third Eye® Retroscope®.  This device has been shown to enhance polyp detection when used in conjunction with a colonoscope by providing a retrograde view of the lining of the colon.

"Oxford is pleased to provide financing to Avantis Medical Systems," said Christopher A. Herr, managing director for Oxford Finance. "The Company's novel technology has been clinically proven to significantly increase adenoma detection rates compared to a standard colonoscopy."

"Colonoscopy is the gold standard for preventing colon cancer by finding and removing pre-cancerous adenomas and polyps," said Avantis Medical Systems' chief medical officer, Jack Higgins, MD.  "The Third Eye® Retroscope® has been shown in clinical studies to help physicians find up to 23-25%(I, II) more adenomas than a standard colonoscope alone and over 40% additional adenomas in higher risk patients." (III)

"The Third Eye® Retroscope® fills a critically important clinical need to visualize areas of the colon and the adenomas that reside there that would otherwise go undetected during a colonoscopy," said Rick Randall, chairman and chief executive  officer of Avantis Medical Systems.  "The collaboration with Oxford Finance will provide additional capital to support the commercialization of this important medical device."

About Oxford Finance LLC

Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $50 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Illinois, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.  

About the Third Eye Retroscope and Avantis Medical Systems, Inc.

Avantis Medical Systems, Inc. markets the Third Eye® Retroscope®, an FDA-cleared, disposable, catheter-based camera indicated for use with a standard colonoscope to provide an additional view of the colon for diagnostic purposes.  It is inserted through the instrument channel of a standard colonoscope to provide the physician with a retrograde (backward) view of the lining of the colon.  Avantis Medical is focused on delivering cost-effective solutions for improved detection and prevention of cancers of the gastrointestinal tract.  For more information, visit www.AvantisMedical.com or www.ThirdEyeRetroscope.com.

(I)  DeMarco DC, Odstrcil E, Lara LF, et al. Impact of Experience with a Retrograde-Viewing Device on Adenoma Detection Rates and Withdrawal Times during Colonoscopy: The Third Eye Retroscope Study Group. Gastrointest Endosc 2010;71:542-50

(II)  Leufkens AM, Demarco DC, Siersema PD, et al. Effect of a Retrograde-Viewing Device on Adenoma Detection Rate during Colonoscopy: The "TERRACE" Study. Gastrointest Endosc 2011;73:480-90

(III) Siersema P, Rastogi A, Leufkens A, et al. A Retrograde-Viewing Device Improves Adenoma Detection Rate in Colonoscopies for Surveillance and Diagnostic Workup. Am J Gastroenterol 2011; 106: S537-8. (Online at http://download.abstractcentral.com/ACG2011/proofs/67.html)


'/>"/>
SOURCE Oxford Finance LLC
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. UK Chalks Up $253 Million in Investment in Q2 2011: Oxford Cluster Takes the Largest Bite of the Apple
2. Oxford BioMedica Announces Ocular Programme Update
3. Oxford Finance Corporation Provides a $2 Million Equipment Facility to Synta Pharmaceuticals Corp.
4. Oxford BioTherapeutics Licenses BioWas POTELLIGENT® Technology for the Research and Development of its Therapeutic Antibodies in Cancer
5. ICAP Ocean Tomo Announces Four Patent Sets From Oxford Instruments - Each Represents an Important Advancement in Technology
6. Intuity Medical Secures $20M Credit Facility From Silicon Valley Bank and Oxford Finance Corporation
7. Oxford Finance Corporation Hires Debbie Baker to Support Life Science Business Development in Western North America
8. Oxford Finance Corporation Leads $30 Million Secured Loan Facility for Cadence Pharmaceuticals
9. Oxford Finance Corporation and United Orthopedic Group, Inc. Close $20 Million Credit Facility
10. Oxford Finance Corporation Facilitates Entry for Reata Pharmaceuticals into Asian Markets
11. Oxford Finance Corporation Closes $25 Million Credit Facility with EUSA Pharma
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/15/2017)... Inc. announced today that its fully owned USA ... York City Office in Yonkers, New York ... (TWO 2 ) homecare therapy. This new East Coast location has ... under the company,s DMEPOS accreditation for Home/Durable Medical Equipment Services. ... Advanced Oxygen Therapy Inc. New ...
(Date:8/8/2017)... --   Second-quarter 2017 revenues ... per share from continuing operations ... percent to $110 million ... $161 million Second-quarter 2017 ... increased 8 percent to $0.93 ...
(Date:8/7/2017)... DUBLIN , Aug. 7, 2017  Endo International ... has reached agreements to resolve virtually all known U.S. ... in discussions to resolve the known remaining U.S. claims ... installment payments beginning in the fourth quarter of 2017 ... part of its second quarter 2017 results, the Company ...
Breaking Medicine Technology:
(Date:8/19/2017)... ... August 19, 2017 , ... Yesterday, the President of the United States ... two sides. There are not two sides to hatred, bigotry, discrimination, and a white ... and the NPEIV stands against all forms of such hatred and discrimination in this ...
(Date:8/18/2017)... ... August 19, 2017 , ... Mr. ... presided over the Amazing Thailand Health and Wellness Tourism Showcase 2017 yesterday, which ... Pakprot, Deputy Governor for Tourism Products and Business at TAT said, “Thailand has ...
(Date:8/18/2017)... York, NY (PRWEB) , ... August 18, 2017 ... ... edition of “Vision & Hearing” campaign, advocating for active, healthy lifestyles and highlighting ... resources available for individuals with hearing impairments and shares the latest innovations in ...
(Date:8/18/2017)... , ... August 18, 2017 , ... The Dawn Johnson ... inaugurating a new charity drive to generate community support for efforts to educate the ... cures and treatments for all types of cancer. , Each day in America, ...
(Date:8/18/2017)... ... 2017 , ... MLM Insurance Group, a Miami area provider ... is working to support the Take Stock In Children Foundation during a regional ... The Take Stock In Children Foundation (TSC) offers guidance and assistance to low ...
Breaking Medicine News(10 mins):