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TriReme Medical Inc. Announces $17 Million Series D Financing


10/11/2010 7:35:31 AM

PLEASANTON, Calif., Oct. 11 /PRNewswire/ -- TriReme Medical, a leading developer of innovative catheters and stents for the treatment of complex vascular disease, announced today the closing of a $17M Round D financing. The financing was led by Bio*One Capital, a subsidiary of Singapore based EDB Investments ('EDBI') with strong support from current investors, Three Arch Partners and Adams Street Partners. "We are delighted to have Bio*One join our group of sophisticated blue chip investors who share our vision of developing innovative catheter and stent technology for coronary and peripheral interventional procedures," said Eitan Konstantino, Ph.D., President and CEO of TriReme Medical, Inc. "This investment will allow us to ramp up our commercial activities worldwide, continue to develop internal R&D programs and pursue key regulatory approvals for our products in large markets such as the US, Japan, and China."

Ms Chu Swee-Yeok, CEO EDBI and Bio*One Capital said, "We are impressed with the global vision of TriReme's management team and its ability to rapidly develop and gain regulatory approvals for its novel catheter technologies. Its strategy of positioning itself in Singapore will allow the company to tap on the fast growing Asian markets and enhance its competitiveness and reach." Mark Wan, General Partner at Three Arch Partners added, "This investment will allow TriReme to maximize the value of its R&D portfolio by providing for expansion of regulatory approvals and the creation of a commercial infrastructure that will drive revenue growth in the coming years."

About TriReme Medical, Inc.

Based in Pleasanton, California, TriReme Medical, Inc. (TMI) is a privately held medical device company dedicated to the development, manufacturing, and commercialization of next generation percutaneous devices for the treatment of complex coronary and peripheral arterial disease. The Company's novel balloon and stent therapies are specifically designed for large, unmet clinical needs.

About EDBI and Bio*One Capital

EDBI (EDB Investments) is a leading investment firm headquartered in Singapore with worldwide presence. EDBI invests globally in the innovative and dynamic sector of Biomedical Sciences through its subsidiary Bio*One Capital, as well as in other key industries such as Clean Technologies and Digital Media. As a value-adding investor, EDBI works closely with its portfolio companies, leveraging its extensive networks and experience to help bridge and drive the companies' growth strategies for Asia.

For more information please visit www.edbi.com.

About Three Arch Partners

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 100 important new healthcare companies. These companies have often become the clinical and market leaders in their respective fields, and have generated strong returns. The fund focuses on opportunities in medical devices and healthcare services, and less frequently in biotechnology.

About Adams Street Partners

Based in Menlo Park, California, Adams Street Partners is one of the largest managers of private equity investments in the world. The firm provides private equity fund of funds and direct partnership capabilities to institutional clients. Currently, Adams Street Partners manages over $20 billion in private equity assets for clients in Australia, Japan, North America, the U.K. and Europe.

SOURCE TriReme Medical, Inc.


Read at BioSpace.com


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