Sensory NeuroStimulation Inc, makers of the Relaxis device for treating restless legs syndrome (RLS), has entered into a new credit agreement with Silicon Valley Bank.
The $1.5 million credit facility will support the company’s ongoing operations as it launches the Relaxis system, an FDA-cleared, non-pharmacologic solution for improving the quality of sleep in patients with primary RLS, a progressive neurological condition also known as Willis-Ekbom disease (WED). The Relaxis device was designed to provide physical relief of RLS symptoms through the use of vibratory counterstimulation, and is available on a prescription-only basis in the United States.
“We are pleased to have achieved this important corporate milestone, which will help us make Relaxis available to the millions of patients suffering from Restless Legs Syndrome across the nation,” says company chairman and Relaxis inventor Fred Burbank, MD, in a release.
Brett Maver, director of Silicon Valley Bank in Irvine, says: “It is our pleasure to work with Sensory NeuroStimulation, and other innovative companies around the world that are bringing important medical advancements to the healthcare market. Our goal is to help the Sensory NeuroStimulation team move its business forward quickly with the right financing, connections, and global services it needs as the company matures to its next phase of growth.”
