Story excerpt provided by MedCity News
Written by Brandon Glenn
Neurostimulation pain-relief device company SPR Therapeutics has been approved for a $900,000 loan from the state of Ohio.
The financing comes after Cleveland-area SPR earlier this year raised a $2.2 million series A round and announced that it was on the hunt for strategic partnerships that could range from licensing deals to outright acquisition.
A representative of SPR declined comment on the state loan, but the Ohio Department of Development said it would finance a project that “involves the acquisition of machinery and equipment, molds and tooling, and intellectual property protection costs in order to commercialize the company’s neurostimulation pain-relief system.”
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