HotSpur launches dialysis technology with new $2.75M
HotSpur Technologies, developer of technology for less invasive dialysis, has brought in $2.75 million to bring its two lead products to market. Based in Mountain View, Calif., the company is backed by Onset Ventures, Bio-Star Private Equity Fund, Finistere Partners, Saratoga Ventures, Three Arch Partners and Versant Ventures. It last raised money in November 2008, bringing in $1.75 million in a first round. Dow Jones VentureWire reports that it will need to raise $5 to… Continue Reading
Broncus inhales $38M to treat lung disease, eyes IPO
Broncus Technologies, developer of devices to treat emphysema and other lung ailments, may make a second run at going public after bringing in $38 million in seventh-round funding to break even, reports VentureWire. The Mountain View, Calif. company first filed for a $75 million IPO last November, but withdrew in June due to the flagging lifescience market.
Resuscitated in July with $10 million in debt financing from Western Technology Investment, Broncus plans to release two cancer-fighting… Continue Reading
MyoScience raises $10.4M for aesthetic medicine
MyoScience, a stealth-mode medical company based in Redwood City, Calif., has taken $10.4 million in a second funding for continuing clinical trials.
The company has not yet disclosed exactly what use its aesthetic devices will have, although CEO Lisa Elkins hinted that aging eyes and skin might be the target to VentureWire, which first reported the funding.
The funding was led by Nexus Medical Partners, with participation from Accuitive Medical Ventures, De Novo Ventures and Saratoga Ventures…. Continue Reading
Saratoga Ventures raises $3M of $25M fund
Saratoga Ventures, a Los Gatos, Calif., venture-capital firm specializing in early-stage medical-device investments, has raised $3 million as part of an expected $25 million sixth fund, PE Wire reports.
That may not sound like a lot, but investing in early-stage companies obviously requires far less capital than later rounds, and Saratoga has a fairly impressive portfolio, including companies we’ve written about recently such as Asthmatx, Paracor and Point Biomedical.
Also, props to Saratoga for continuing… Continue Reading
Paracor raises $44M for heart-failure device that restrains the heart
(UPDATED: See below.) Paracor Medical, a Sunnyvale, Calif., startup developing a mesh restraint designed to support failing hearts, raised $44.35 million in a fourth round of funding. The company is vying with another device startup, Acorn Cardiovascular, to prove that this sort of device works and to bring it to market.
The idea behind Paracor’s device, which it calls HeartNet, is simple. In heart failure, a general term for a variety of similar conditions with different causes, the… Continue Reading
Boston Scientific acquires Endotex, the latest exit for serial entrepreneur Khosravi
Boston Scientic has acquired Cupertino stent maker, Endotex, for an undisclosed amount.
Endotex had raised more than $25 million in venture funding, including from Delphi Ventures, Guidant Corp., New Enterprise Associates, New Venture Partners, Onset Ventures, US Surgical and Saratoga Ventures. Boston Scientific had also owned a stake.
It is the latest accomplishment for Endotex founder Fred Khosravi, who had previously built another company, EPI, also bought by Boston Scientific. He’s founded seven medical device companies…. Continue Reading
AorTx raises $5.8 million for aortic valve replacement
AorTx, a secretive Redwood City company developing a aortic valve replacement technology, has raised $5.8 million in two rounds of funding.
LinkSV reported the company raised $2.7 million earlier this year, and VentureWire reported (sub required) it has just raised more in first round, for a total of $5.8 million.
The company is moving from animal to human trials.
Investors include Bio-Star Private Equity Fund, Saratoga Ventures, MedFocus, Wilson Sonsini Goodrich & Rosati and St. Jude Medical…. Continue Reading
Tibion raises $3M for knee & other orthopedic devices
VentureWire (sub required) has the story about the Moffett Field-based company, Tibion:
Tibion Corp., a developer of external orthopedic devices, said that it has raised $3.5 million in Series A financing.
Claremont Creek Ventures led the round, joined by Saratoga Ventures, said Kern Bhugra, chief executive of Tibion. Bhugra said that the round is tranched, although he declined to say how much was provided in the first installment…The company’s most advanced device, called the PowerKnee, is an… Continue Reading