Sientra Secures $20 Million Credit From Silicon Valley Bank

 

SANTA BARBARASientra, Inc. (NASDAQ: SIEN), a publicly-traded medical aesthetics company, has entered into a $15 million secured line of credit and a $5 million term loan agreement with Silicon Valley Bank (SVB).

This agreement provides up to $20 million of capital to the company to be used for general corporate purposes, working capital needs related to inventory as the company prepares for FDA approval of its new manufacturing site, and strategic initiatives.

“We’re pleased to provide this financing to Sientra as the company works toward achieving its strategic and operational initiatives,” said Brett Maver, director for Silicon Valley Bank. “Our goal is to provide the Sientra team with the right financing, connections and services that they need to meet their corporate objectives.”

Headquartered in Santa Barbara, Sientra is a medical aesthetics company committed to making a difference in patients’ lives by enhancing their body image, growing their self-esteem and restoring their confidence. The Company has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants and breast tissue expanders exclusively to board-certified and board-admissible plastic surgeons and tailors its customer service offerings to their specific needs.