ALEXANDRIA, VA, June 29, 2016 – Oxford Finance LLC (“Oxford”), a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $10 million term loan to Monteris Medical (“Monteris” or “the Company”). Proceeds of the loan are being used to accelerate the ongoing sales of its NeuroBlate® System, a laserablation device utilized by neurosurgical specialists to treat brain lesions.
Monteris Medical, founded in 1999, creates neurosurgical technology that offers a minimally invasive alternative to open brain surgery. The Company is focused on developing innovative MRI-guided neurosurgical ablation tools and solutions for neurosurgeons. By combining the imaging power of Magnetic Resonance Imaging (MRI), advanced navigation software and Laser Interstitial Thermal Therapy, Monteris Medical has created a system enabling surgeons to reach lesions that are difficult to access with standard surgery or were previously considered inoperable.
“Over the past few years, Monteris has been very effective marketing its NeuroBlate® System,” said Christopher A. Herr, senior managing director at Oxford Finance. “Oxford is pleased to provide additional capital to Monteris, and we wish the Company continued success with its plans to expand sales.”
Jim Erickson, chief financial officer of Monteris commented, “Oxford has been a close partner to Monteris during our early stage development activities, and we welcome the opportunity to continue that partnership. This additional venture debt capital gives us the flexibility to accelerate the adoption of our NeuroBlate® system as a minimally invasive surgical alternative for neurosurgeons and their patients.”
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 $3 billion in loans, with lines of credit ranging from $500 thousand to $75 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California and Massachusetts. For more information visit www.oxfordfinance.com.
Monteris® Medical is a privately held company developing innovative MRI-guided, laser-based brain lesion therapy. Monteris Medical markets the NeuroBlate® System, a neurosurgical ablation device providing controlled therapy for brain lesions. The company also offers the Monteris Mini-Bolt, the only cranial bolt system that enables a robotic interface for protected and precise therapy delivery, as well as the AtamA™ Stabilization System for MRI-guided neurosurgical procedures requiring head fixation. For more information about Monteris Medical please visit www.monteris.com.