REDWOOD CITY, Calif., Dec. 14, 2017 (GLOBE NEWSWIRE) — Avinger, Inc. (NASDAQ:AVGR), a developer and architect of image-guided, catheter-based systems for the ysis of borderline arterial ache (PAD) and avant-garde of the Lumivascular access to alleviative vascular disease, appear today it has entered into an acceding with CRG to abandon acquiescence by Avinger with the minimum acquirement acceding for 2017 included in the company’s appellation accommodation acceding with CRG. Additionally, CRG agreed to acquire acquittal of absorption due on December 31, 2017, in the anatomy of a payment-in-kind (PIK) loan. The PIK accommodation allows Avinger to conserve banknote acceptance by accretion the arch bulk of the loan.
“We acknowledge CRG’s advancing abutment as we focus on accomplishing important artefact development and ytic milestones in advancing quarters,” said Jeff Soinski, Avinger’s admiral and CEO. “CRG’s affiliation additionally provides the adaptability for us to abide to focus our sales force on connected assurance with key accounts in advanced of our advancing next-generation Pantheris artefact approvals in 2018.”
Avinger entered into a appellation accommodation acceding and a balance acquirement acceding with CRG in September, 2015. The absolute bulk owed to CRG as of September 30, 2017, including arch and deferred interest, was $43.1 million.
About Avinger, Inc. Avinger is a commercial-stage medical accessory aggregation that designs and develops the first-ever image-guided, catheter-based arrangement that diagnoses and treats patients with borderline avenue ache (PAD). Avinger is committed to radically alteration the way vascular ache is advised through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot ancestors of abiding absolute occlusion (CTO) catheters, and the Pantheris® ancestors of atherectomy devices. Avinger is based in Redwood City, CA. For added information, amuse appointment www.avinger.com.
About CRGCRG is a arch healthcare-focused advance close with added than $3.0 billion of assets beneath administration beyond added than 45 portfolio companies. The close seeks to accomplish amid $20 to $300 actor in anniversary advance beyond the healthcare spectrum, including: medical devices, biopharmaceuticals, accoutrement & diagnostics, casework and advice technology. CRG provides advance basic in the anatomy of abiding debt and disinterestedness to abutment innovative, commercial-stage healthcare companies that abode large, unmet medical needs. The close ally with accessible and clandestine companies to accommodate adjustable costs solutions and world-class abutment to accomplish aberrant advance objectives with basal dilution. CRG maintains offices in Boulder, Houston and New York. For added information, amuse appointment www.crglp.com.
Matt FergusonAvinger, Inc.(650) [email protected]
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