Aerin Medical closes $50 million term loan agreement with CRG

By Sarah Lizee

Olympia, Wash., May 21 – Aerin Medical, Inc. closed on a $50 million non-dilutive term loan agreement with CRG LP, according to a press release.

Aerin received $35 million at closing and will receive an additional $15 million in two tranches upon achieving milestones.

The company used about $16.5 million of the proceeds to retire its existing debt. The remaining proceeds will be used to accelerate Aerin's sales and marketing reach and to launch its next product.

Aerin is an Austin, Texas-based medical technology company focused on improving the quality of life for patients suffering with nasal airway disorders through the development and commercialization of disruptive minimally invasive treatments.

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