£3 million Loan Facility

Sphere Medical Holding plc (AIM: SPHR.L), an innovative point-of-care monitoring and diagnostic devices company, is pleased to announce that it has secured a £3 million loan facility (the “Facility”) from Silicon Valley Bank.

Under the Facility, an initial loan of £1.5m is being drawn immediately.  A further £1.5m loan will be conditionally available until March 2018.  The funding from the Facility will be used for general corporate purposes.  The loans will be repayable by March 2020.

Richard Wright, the Company’s Chief Financial Officer, commented: “Now that we have launched Proxima 4, this additional funding gives us important extra flexibility as we advance through the launch phase.  We welcome the support from Silicon Valley Bank which is a further demonstration of the continuing commercialisation of the Company.”