ATLANTA "We are pleased to be working with a financial institution that understands
our business as well as Silicon Valley Bank," said Ed Cordell, chief financial
officer of Novoste. "We are confident that they will be able to support us through
all stages of our business life cycle."
"Novoste has developed a market leadership position with its Beta-Cath™
System product platform and the company has exciting prospects for future growth,"
said Alan Spurgin, senior vice president in Silicon Valley Bank's Atlanta office.
"We are delighted to support Novoste Corporation not only with the credit facility,
but with our full array of banking products and services."
About Novoste Corporation
Novoste Corporation, based in Atlanta, Ga., develops advanced medical treatments
for coronary and vascular diseases and is the worldwide leader in vascular brachytherapy.
The company's Beta-Cath™ System is commercially available in the United
States, as well as in the European Union and several other countries. For general
company information, please call (770) 717-0904 or visit the company's web site
at http://www.novoste.com.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted
niches, focusing on technology and life sciences, while also addressing other
specific industries in which it can provide a higher level of service and better
manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and
Sand Hill, the center of the venture capital community in California. Other
regional offices within California include: Irvine, Los Angeles, Napa Valley,
San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside
of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach,
Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis,
Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania;
Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.
SVB Contact: Andrea McGhee, (408) 654-3078, amcghee@svbank.com.