Phase Bioscience, a startup focused on purification technology, has closed on a $1 million loan from Silicon Valley Bank.

The company will use the loan to help finance a move to a larger headquarters and laboratory facility.

Phase Bioscience is developing technology for the delivery, purification and production of protein-based therapeutics and other therapeutics. The company secured the loan with its equipment.

“Phase Bioscience has compelling intellectual property and industry-savvy investors,” said SVB’s Win Bear, who is based in Chapel Hill.

PhaseBio investors include Fletcher Spaght Venture Partners, Hatteras Venture Partners and Johnson and Johnson Development Corporation.