San Diego — Suneva Medical, a privately held aesthetic medical device company based here, has signed a multimillion-dollar line of credit with Western Technology Investment (WTI), PRNewswire reports.
The line of credit will help fund commercial support for Suneva’s Artefill, a microsphere-enhanced collagen dermal filler, and to expand Suneva’s presence in the aesthetic market.
PRNewswire quotes Suneva President and C.E.O. Niv Caviar as saying, “This additional capital from WTI, combined with the financial commitment and support we continue to receive from Cowen Healthcare Royalty Partners, well-positions Suneva as we look ahead to 2010 and our near term goal of profitability. ... With our additional funding, we will continue to promote Artefill to physicians who wish to offer their patients a safe and long-term option versus the temporary fillers currently in the market.”
