SurgRx, a company that seals human tissue, raises $20M (video)
SurgRx, a Redwood City, Calif. maker of technology that uses heat and electric current to seal human tissue for medical purposes, has raised $20 million in fifth round of financing, VentureWire is reporting (sub required).
Hedge fund Magnetar Capital led the round, which included backers Alta Partners, Prospect Venture Partners, New Enterprise Associates and California Technology Ventures, the report said, citing Ed Unkart, the company’s chief financial officer.
The technology is used as part of a “jaw” device that helps seal vessels ranging in diameter from less than 1 mm to 7 mm, during laparoscopic and open surgery.
There’s a YouTube video (caution: somewhat bloody) demonstrating the technology below:
SurgRx is going up against big players such as Johnson & Johnson Inc. and Tyco International Ltd, in market that includes things like gynecologic, transplant and general surgical procedures — measured by some to be worth more $4 billion.
SurgRx previously raised about $43 million.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.












