Heritage Bank of Commerce Provides $9 Million Faci

SAN JOSE, Calif., April 05, 2017 (GLOBE NEWSWIRE) -- Heritage Bank of Commerce, the operating bank of Heritage Commerce Corp (NASDAQ: HTBK ), today announced that they have provided Vivex Biomedical, Inc., based in Atlanta, Georgia, a $9 million line of credit and other financial services to support Vivex’s growth in the biomedical industry.

“Vivex’s business is accelerating on every front, and we needed a financial partner able to support rapid, multi-faceted growth,” said Tracy Anderson, President and CEO of Vivex. “We are constantly striving for creative treatment options and solutions to progress clinical, surgical and therapeutic patient care. We will use the additional funding for new product development, to expand operations, and for working capital and general corporate purposes. Heritage Bank of Commerce is a financial institution that understands the needs of our company.”

“We are very pleased to be working with Vivex,” said Mike Hansen, Senior Vice President, Corporate Finance at Heritage Bank of Commerce. “We feel our line of credit will assist with their capital needs as they continue to grow and we look forward to a successful partnership.”

“Our goal is to partner with Vivex and provide services that best meet their growing business needs,” said Jeffrey Javier, Senior Vice President, Corporate Finance at Heritage Bank of Commerce. “We look forward to watching them grow and drive the future of the biomedical industry.”

About Vivex Biomedical, Inc.

Vivex Biomedical, Inc. is a regenerative biologics company, dedicated to creating novel products for patient care. Founded in 2014, Vivex and UMTB (founded 1970) strive for methods to convert translational research into treatments for patients.

Vivex’s primary goal is translating innovation into treatments for patients, further expanding surgical options, and fulfilling surgeon needs. At the present time, research and development is focused on making strides across biologics and regenerative medicine, with major areas of investigation including: cartilage, soft tissue, bone, and skin. Focuses include amniotic fluid therapy, viable allogenic bone allografts, and amniotic tissue matrices.

Vivex works closely with community partners that are committed to providing care and compassion to donor families, while simultaneously inspiring communities to donate. Partnering with others ensures that families are offered the appropriate options and support for donation, including Life Alliance, the Lions Eye Bank, Brain Bank, and Medical Examiners.

About Heritage Bank Of Commerce Heritage Commerce Corp, a bank holding company established in February 1998, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose with full service branches in Danville, Fremont, Gilroy, Hollister, Los Altos, Los Gatos, Morgan Hill, Pleasanton, Sunnyvale, and Walnut Creek. Heritage Bank of Commerce is an SBA Preferred Lender. Bay View Funding, a subsidiary of Heritage Bank of Commerce, is based in Santa Clara and provides business essential working capital factoring financing to various industries throughout the United States. For more information, please visit www.heritagecommercecorp.com . 

Contact: Diana Olveira / VP Marketing 408.534.4930