Celleration, Inc. Announces Close of $8 Million Series E Financing
1/12/2011 7:35:19 AM
EDEN PRAIRIE, Minn., Jan. 11, 2011 /PRNewswire/ -- Celleration, Inc., a privately held medical device company focused on developing and commercializing therapeutic ultrasound products, today announced the closing of an $8 million Series E round of equity financing. All of the Company's existing institutional investors participated in this round in addition to Sightline Healthcare Opportunity Fund who participated as a new investor.
"The addition of Sightline Healthcare Opportunity Fund as a new investor to our solid base of venture capital partners is a strong endorsement of the team we have built and further validates the potential value of MIST Therapy to all stakeholders in today's cost sensitive healthcare environment," said Mark Wagner, President and CEO of Celleration, Inc. "This round of financing positions Celleration well for the next phase of growth and market development and provides funding to develop additional applications for MIST Therapy."
About Celleration, Inc.:
Celleration, Inc. is a privately held medical device company. Celleration develops and markets a proprietary technology that has been proven to accelerate healing in wounds by delivering therapeutic, low frequency ultrasound without direct contact of the delivery device to the wound surface. Celleration's core product, the MIST Therapy® System has been clinically shown to positively impact all critical aspects of the wound healing process providing clinical and economic benefits to institutions treating non-healing wounds. Currently, over 45,000 patients have been treated with 800 system installations.
SOURCE Celleration, Inc.