Tenex drums up $1.3 million

March 16, 2010 by MedCity News

Tenex Health Inc., led by former Boston Scientific executive Jagi Gill, raises $1.3 million in an equity sale.

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By Thomas Lee

Tenex Health Inc. raised $1.3 million from the sale of equity, according to a filing with the Securities & Exchange Commission.

The Rochester, Minn.-based biotech start-up, which is seeking a total of $2 million, is developing treatments for sports-related injuries such as tendinitis.

Founder and CEO Jagi Gill did not return a phone call seeking comment.

Gill is a long time medical device executive in the Twin Cities. He formerly worked at Mayo Clinic’s department of neurology and Boston Scientific Corp. (NYSE:BSX),b where he was a top marketing and business development executive in its cardiovascular and neuromodulation units.

Gill was also a top suit at Sage Medical, PhysioStream Inc. and Nesos Health LLC, where he invented a device that uses electromagnetic energy to treat injured knee joints. He was also an entrepreneur-in-residence at Split Rock Partners, an early-stage venture capital firm based in Eden Prairie, Minn.