Senseonics (NYSE:SENS) said yesterday that it took out a term loan worth $30 million from Oxford Finance and Silicon Valley Bank, augmenting the $45 million it raised in an initial public offering in March.

Germantown, Md.-based Senseonics, which makes the Eversense implantable continuous glucose monitor, said it used $11 million of the 1st, $15 million withdrawal to pay off existing loans from Oxford. The remaining $15 million can be drawn down through the end of 2017 after the company reaches unspecified milestones, Senseonics said.

“Together with the capital we have raised through our recent public offering, the agreement with Oxford and SVB provides capital on attractive terms that can support our continued efforts to pursue our business plan aggressively,” CEO Tim Goodnow said in prepared remarks. “The optional borrowing amounts, which are available upon achievement of certain milestones, provide added flexibility to fund other growth initiatives as opportunities arise.”

The loan calls for monthly interest payments over 12 months, then a 3-year amortization period. If the milestones are met and Senseonics draws down another $10 million, the interest-only period extends to 18 months and the amortization period would be cut to 30 months, the company said.

Senseonic was formed in December 2015 via a merger with ASN Technologies. Its Eversense system is designed to continuously monitor a patient’s glucose levels for up to 90 days, using a subcutaneous sensor and an external, removable smart transmitter linked to a mobile app for real-time glucose monitoring. The device won CE Mark approval in the European Union back in May; later that month, Senseonics inked a distribution deal for Germany, Italy and the Netherlands with Roche (PINK:RHHBY).