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Bucks County medical device firm lands $20M credit deal from Silicon Valley Bank

Bucks County medical device company Orchestra BioMed said Tuesday it has entered into a $20 million credit agreement with Silicon Valley Bank. This deal provides Orchestra BioMed with an initial amount of up to $10 million it can use for development and general corporate expenditures during the next 12 months. The remaining will be available to the company if it hits certain undisclosed product development milestones.