BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

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



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES