Cambridge Endo and Stemgent bring in several million in new funding rounds

May 18, 2010 by MassDevice staff

Cambridge Endoscopic Devices Inc. and Stemgent Inc. each made quick gains from multi-million dollar equity offerings that opened April 30.

Cambridge Endo, an endoscopic surgical tool maker based in Framingham, Mass., sold to one individual $3 million of a $7.5 million offering, according to Securities & Exchange Commission filings. CEO Woojin Lee and directors Walter Winshall and Phil Henderson were listed as principals in the deal.

Less than a year ago, Cambridge Endo raised $1.5 million in debt financing.

Stem cell firm Stemgent Inc., based in Cambridge, Mass., sold $5.6 million of a proposed $10.1 million offering. Six individuals bought stakes in the company for no less than $500,000, according to an SEC filing. The filing lists Stefan Miltenyi of Miltenyi Biotec as a director. Miltenyi was inducted onto Stemgent's board when Stemgent and his company this month inked a development and marketing deal.

Other principals named in the filing are CEO Ian Ratcliffe and directors Harold Werner and Augustine Lawlor, both of HealthCare Ventures, and Ralph Christoffersen of Cleveland-based Morganthaler Partners VIII LP.

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