NMT Medical, Inc. (NMT Medical), a developer of implant technologies that treat structural heart disease, has entered into a $4 million, two-year credit facility with Silicon Valley Bank, a unit of SVB Financial Group. The loan amount will be used for company’s clinical studies and development projects.
Frank Martin, NMT’s president and chief executive officer, said, This non-equity based credit facility will provide NMT with additional financial flexibility in order to fund its ongoing clinical trials and development programs as well as its future progress in the treatment of structural heart disease. NMT is very pleased to be able to secure this line of credit, particularly during these challenging economic times.