Bioconnect Systems Completes $8M Series A Financing.New Financing Led by Cardinal & Fidelity Biosciences Funds AMBLER, Pa. -- Bioconnect Systems, Inc. announced today that the company has raised $8 million in Series A financing. Bioconnect's initial product platform, the Optiflow[TM], enables surgeons to create precisely controlled connections throughout the body. The company's initial product, the Optiflow[TM] AV is a proprietary anastomotic a·nas·to·mo·sis n. pl. a·nas·to·mo·ses 1. The connection of separate parts of a branching system to form a network, as of leaf veins, blood vessels, or a river and its branches. 2. connector addressing the need for improved access in over 1.5 million worldwide dialysis patients. Vascular access vascular access Clinical medicine The ability to enter the vascular system; the ease with which the vascular system can be entered for administering therapy or obtaining blood for testing is considered the Achilles' Heel of hemodialysis hemodialysis /he·mo·di·al·y·sis/ (-di-al´i-sis) removal of certain elements from the blood by virtue of the difference in rates of their diffusion through a semipermeable membrane while being circulated outside the body; the process , contributing to high mortality rates of 68% at five years. Approximately one-third of surgically created access sites never become functional while another one-third fail within the first year. Adam Dakin, Bioconnect's chief executive officer and co-founder, said, "We are delighted to have the support of Cardinal Partners and Fidelity Biosciences, two highly respected healthcare venture funds. This capital enables us to accelerate development of our first product and to license or acquire complimentary technology targeting dialysis access." The financing was led by Cardinal Partners, a Princeton, New Jersey
Princeton, New Jersey is located in Mercer County, New Jersey, United States. Princeton University has been sited in the town since 1756. based venture capital fund and Fidelity Biosciences of Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. . In conjunction with the financing, Charles Hadley, General Partner at Cardinal Partners, and Robert Weisskoff, Partner at Fidelity Biosciences, will join the board, as will co-founder Mike Dugery. Mr. Hadley commented "Government initiatives such as Fistula fistula (fĭs`ch  lə), abnormal, usually ulcerous channellike formation between two internal organs or between an internal organ and the skin. First have raised awareness of the critical clinical need for improving
dialysis access. We were attracted by the company's strategy to
develop and aggregate products targeting the wide range of access needs
in this large and highly underserved patient population."
For further information, connect to www.bioconnectsystems.com |
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