Biolase Technology has entered into a $5 million secured debt facility with MidCap Financial and Silicon Valley Bank. The financing will be used for ongoing working capital requirements.
"This loan agreement fortifies our recently announced top line restructuring efforts, our expanding sales force, our new iLase product launch that is still in progress, and our new consumer products planned for professional channels which were announced earlier this week, and supports the new products and enhancements currently in our research and development pipeline," said Biolase CEO David Mulder in a press release.
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