SAN FRANCISCO, Nov. 27, 2018 /PRNewswire/ — Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $5 million credit facility to new client Zenflow, a privately-held urologic medical device company. Proceeds from the facility will support short-term and long-term growth initiatives.
Headquartered in South San Francisco, Zenflow was founded by a team of Stanford University Biodesign Fellows to develop a patient-focused approach to treat the symptoms of benign prostatic hyperplasia (BPH). Through the company’s Spring® System, patients experiencing BPH symptoms can undergo treatment in a simple procedure in an urologist’s office. The innovative Spring Implant, composed of super elastic shape-memory material, is deployed through a small, flexible catheter which can allow for a less invasive and less painful treatment. The company is backed by several leading investors including F-Prime Capital Partners, Invus Opportunities, Medical Technology Venture Partners, Y Combinator and the Stanford-StartX Fund.
“We are excited to have Square 1’s confidence in our team and technology as we take the next steps in Zenflow’s journey,” said Nick Damiano, co-founder and chief executive officer of Zenflow. “This credit facility will help us execute on our clinical studies, secure regulatory approval, and fulfill our mission of improving quality of life for the many millions of men suffering from BPH symptoms.”