Suneva Medical announced the closing of a $15 million equity investment by pharmaceutical company Almirall. In conjunction with the investment, Almirall will receive one seat on Suneva Medical’s board of directors.
Additionally, Suneva Medical recently completed a $20.4 million growth-capital term loan with an account managed by HealthCare Royalty Partners, and increased the size of an existing working capital facility with Comerica Bank.
The financing will act as a strong foundation for Suneva Medical’s continued growth and the ongoing launch of Bellafill, the dermal filler indicated for the correction of moderate to severe, atrophic, distensible facial acne scars on the cheek in patients over the age of 21 years.
“We are enthusiastic about the potential this strategic relationship with Almirall creates as we continue to grow. We look forward to the opportunities with Almirall to energize and expand our business,” said Nicholas L. Teti, Jr., chairman and CEO of Suneva Medical.