Elysium Health™ Secures $5 Million Credit Facility From Silicon Valley Bank
NEW YORK, June 29, 2017 /PRNewswire/ -- Elysium Health, Inc.,™ a consumer health company developing scientifically-sound dietary supplements, today announced that it secured a $5 million credit facility from Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors. The credit facility is a working capital line of credit for up to $5 million that can be used for general corporate purposes and to support growth.
"Elysium Health is committed to bringing evidence-based supplements to market that enable people to take a proactive role in managing their health," said Eric Marcotulli, co-founder and CEO of Elysium Health. "Our financial agreement with Silicon Valley Bank reflects the confidence the SVB team has in our growth potential, and we look forward to further advancing meaningful scientific breakthroughs."
"Elysium Health aims to fundamentally change the way we think about health and wellness," said Melissa Stepanis, New York market manager for Silicon Valley Bank. "We're pleased to support the Elysium Health team as the company matures and advances its innovative vision."
The credit facility follows the $20 million Series B financing Elysium announced in December 2016. Investors in Elysium include General Catalyst, Breyer Capital, Morningside Venture, Sound Ventures, Jim Manzi (chairman, Thermo Fisher Scientific Inc. and former chairman, president and CEO of Lotus Development Corp), biotech venture capitalist Robert Nelsen, and entrepreneur Matthew Mullenweg.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at www.svb.com.
About Elysium Health™
Elysium Health's™ mission is to solve the biggest challenges in health with science, to help people live healthier, longer lives. Working directly with the world's leading scientists and clinicians, Elysium Health™ translates advances in science and technology into effective, scientifically-sound products that help people manage their health in an actionable way. Learn more at www.elysiumhealth.com.
SOURCE Elysium Health