Cohera Medical said it completed a series of mastectomies in Germany using its TissuGlu surgical adhesive, which the medical device company hopes will eventually eliminate the need for drain placement and ease the healing process for patients who have their breast tissue removed.
Surgical sealant maker Cohera Medical said it’s raised $17 million so far in its Series D funding round with a $7.3 million contribution from 23 unnamed private investors.
Cohera, which makes surgical adhesives and sealants, said it plans to use the cash to expand adoption of its TissuGlu product in Germany and "additional European markets" and to advance its 1st U.S. clinical trial, according to a press release.
Cohera Medical landed the 1st of 4 FDA approvals for its TissuGlu surgical adhesive system, which is used as an internal adhesive in large flap procedures, such as "tummy-tuck" surgery.
Cohera earlier this year came to an agreement with the FDA to conduct a modular approach to filing its pre-market approval application, and submitted its 1st module according to plan.
Cohera Medical’s Series D tops $8M
Pittsburgh-based Cohera Medical raised more than $8.4 million in its Series D round, the funds from which will go toward expanding commercialization of its lead TissuGlu surgical adhesive in markets in Europe.
Medtronic (NYSE:MDT) enrolled the first of up to 572 patients in its Fire & Ice trial, the largest clinical study to date to compare 2 atrial fibrillation ablation systems.
The Massachusetts Life Sciences Center awarded a total of $2.2 million in loans to 3 Boston-area life sciences startups – Allurion Technologies, Paragonix Technologies and Intelligent Bio-Systems.
The quasi-public agency’s flagship Accelerator Program provides loans up to $750,000 to early-stage life sciences companies as a part of Massachusetts’ 10 year, $1 billion Life Sciences Initiative.
Spinal injury therapy maker InVivo Therapeutics Holdings Corp. (OTC:NVIV) is preparing a $10 million offering, SEC filings show.
Details haven’t yet been made public regarding pricing, but the company expects to use the proceeds for research & development, working capital, capital expenditures and other general corporate purposes.
Safeguard Scientifics (NYSE:SFE) led a $7 million Series A financing round for health care IT company Medivo that provides data analytics and lab testing services.
First-of-Its-Kind Product to Help Plastic Surgeons Address Wound Drainage Challenges in Large Flap Surgeries
PITTSBURGH, Sept. 14, 2011 /PRNewswire/ — Cohera Medical, Inc.®, a rapidly growing medical device company, announced today that it has received CE Mark approval for its lead product, TissuGlu® Surgical Adhesive. CE Mark approval allows TissuGlu to be sold in the European Union.
TissuGlu is an internal surgical adhesive for large flap surgeries, such as abdominoplasties, that helps reduce fluid accumulation and the need for postsurgical drains. Its unique chemical composition is resorbable, non-toxic, forms a strong bond between tissue layers and allows for natural healing, which ultimately may provide the patient with a quicker return to normal activity.
Cohera Medical Inc. has raised $12.7 million in investment funding, nudging past the halfway point to what it hopes will be a $25 million Series C round.
The funding comes in the form of convertible notes and was raised from existing investors, CEO Patrick Daly said. Daly expects Cohera’s 28 existing investors to contribute a total of $15 million toward the Series C round. He hopes to source the remaining $10 million from new investors in the coming months.