Orthocon closes $25mm Series B round
Deal summary reprinted from Strategic Transactions - April 2009
Orthocon (absorbable products for orthopedic and spine surgeries) raised $25mm in its Series B financing that was co-led by ProQuest Investments and Canaan Partners with additional funds coming from returning shareholder BB Biotech Ventures.
Orthocon closes $25mm Series B round
Deal summary reprinted from Strategic Transactions - April 2009
Founded in 2005, Orthocon is creating implantable devices designed to deliver various therapeutics to bone. Its lead product candidate is an extended-release local anesthetic bone hemostat that stops bleeding and locally relieves pain. Clinical trials are slated to begin later this year. The company recently announced that Paul Sohmer, MD, is taking over as president and CEO. He will also join the board along with a representative from ProQuest. To date Orthocon has raised $35mm in VC money.
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