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Sonoma Ortho names Glen Coleman as CEO, preps launch of bone implant — Santa Rosa, Calif.-based Sonoma Orthopedic Products, until recently a stealthy developer of implants for treating bone fractures, named a new CEO as it prepares for the launch of its first product, VentureWire reports.
The company hired Glen Coleman, former U.S. head of sales and marketing for Wright Medical Technology, as CEO last October in preparation for the anticipated FDA approval of its first bone implant. That product, which Sonoma calls Ensplint, is a flexible implant intended for the hollow space of a broken bone, where it is supposed to speed the healing of fractures.
Ensplint is installed via a minimally invasive procedure, and is intended first for use in wrist fractures, an indication for which the company hopes to soon receive approval. Sonoma will request FDA clearance to use Ensplint in collarbone fractures later this year.
For more details, check out this May 2007 piece from the North Bay Business Journal, which makes clear — as VentureWire didn’t — that the market for bone-fracture treatment is primarily associated with osteoporosis. According to VentureWire, Sonoma has so far raised $13 million in two funding rounds.
TechniScan draws $13M for ultrasound CT scanners — Salt Lake City’s TechniScan Medical Systems, a developer of ultrasound breast-imaging systems for cancer detection in conjunction with mammography, raised $13 million in a fifth funding round. Investors included the Esaote Group and return backers from TechniScan’s board and angel investors.
OrbiMed plans $150M Asian life-science fund — OrbiMed Advisors aims to close a $150 million fund that will target Asian life sciences and healthcare services, VentureWire reports. The fund, Caduceus Asia Partners, will invest in 10 to 15 companies, primarily in China and India.
Accelerated Tech pulls in $47M, aims for $125M in second med-tech fund — Accelerated Technologies Partners, a VC firm and accelerator in Hackensack, N.J., raised $46.5 million toward an expected $125 million second medical-device fund, VentureWire reports. The firm has a primary focus on heart-related applications, and plays an active role in getting startups it funds off the ground.