Deal summary reprinted from Strategic Transactions - August 2009
NiTi Surgical Solutions (developing surgical devices for colorectal, gastric, and upper gastrointestinal diseases) closed on its $18.5mm Series F financing led by first-time backer Forbion Capital Partners, which adds a board member. Returning shareholders Evergreen Venture Partners, Israel Healthcare Ventures, MBVC and Alice Lab (funds of Alice Ventures), and SCP Vitalife also participated. Read more...
NiTi Surgical Solutions brings in $18.5mm via Series F
Deal summary reprinted from Strategic Transactions - August 2009
The company will use part of the funding to market its ColonRing surgical device in the US, where it was recently launched. Money will also support ongoing R&D of its BioDynamix anastomosis technology, which is the backbone behind ColonRing and all of the company's investigational devices. NiTi hopes to offer products for small intestine and esophageal surgeries in the next couple of years. Made from nitinol--a biocompatible metal alloy that is superelastic, memorizes shape, and withstands stress--ColonRing offers an alternative to surgical staples. It promotes natural healing and enables the colon ends to reconnect via compression anastomosis. The device is eliminated from the body once healing is complete.
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