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Confluent Surgical, Inc. Raises $23 Million In Series-D Financing


10/19/2005 5:13:10 PM

WALTHAM, Mass., March 30 /PRNewswire/ -- Confluent Surgical, Inc., today announced that it has completed a $23 million Series D round of venture funding, led by Three Arch Partners of Portola Valley, CA. Ascension Health Ventures of St. Louis, MO also invested in the round along with participating existing investors that include Essex Woodlands Health Ventures, SV Life Sciences, Cross Atlantic Partners, Inc. and HLM Venture Partners, LP.

"This strong financial commitment will help Confluent launch the DuraSeal(TM) Dural Sealant system worldwide and amplify the commercial success DuraSeal has been enjoying in select countries outside of the U.S. where it is currently marketed," stated Amar Sawhney, Ph.D., President, CEO, and Co- Founder of Confluent Surgical, Inc.

Mark Wan, a founding Partner at Three Arch Partners, who will be joining Confluent's Board of Directors stated, "We are excited about Confluent Surgical, as it heads into U.S. commercialization of its lead product DuraSeal, which will be the first surgical sealant approved in the U.S. for cranial surgery. Additionally, Confluent has a rich portfolio of surgical sealant and adhesion barrier products that we believe will cement it as a leader in the emerging field of biosurgery."

Confluent's lead product, DuraSeal Dural Sealant system, is currently marketed in select international territories and has completed a pivotal multi-center clinical evaluation in the U.S. In November 2004, a recommendation for PMA approval for DuraSeal was given by the Neurological Devices Advisory Committee convened by the FDA.

Confluent's other products include the SprayGel(R) Adhesion Barrier System for prevention of adhesions in abdominal and pelvic surgery. Additionally, the company is developing surgical sealing and adhesion barrier products for spine and orthopedic surgery.

About Confluent Surgical

Confluent Surgical, Inc. is a privately held company developing products based on its proprietary technology of in-situ polymerized hydrogels and associated delivery systems for the field of biosurgery. Confluent is developing products to address the need for surgical sealing and post-surgical adhesion prevention applications.

About Three Arch Partners

Three Arch Partners is one of the United States' premiere venture capital firms focusing exclusively on the healthcare industry. The firm manages over $1 Billion in capital. Three Arch Partners was formed in 1993 to provide young companies with access to relevant clinical and business resources, as well as capital. Three Arch has helped create, build and fund more than fifty important new healthcare companies.

For additional information, visit the Confluent Surgical and DuraSeal website at http://www.confluentsurgical.com/ and http://www.duralsealant.com/ or contact Patrick O'Donnell, Director of Global Marketing, at podonnell@confluentsurgical.com

Confluent Surgical, Inc.

CONTACT: Patrick O'Donnell, Director of Global Marketing of ConfluentSurgical, Inc., +1-781-693-2328, podonnell@confluentsurgical.com


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