Coapt Systems Secures $12 Million in Series C Venture Funding.Business Editors PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Feb. 7, 2003 Proceeds to Accelerate Product Development and to Fund Initial Commercialization of its ENDOTINE(TM) Brow Lift Fixation Device Coapt Systems, Inc., developer of bioabsorbable implants for the fixation of soft tissue in the plastic, reconstructive and sports medicine sports medicine, branch of medicine concerned with physical fitness and with the treatment and prevention of injuries and other disorders related to sports. Knee, leg, back, and shoulder injuries; stiffness and pain in joints; tendinitis; "tennis elbow"; and markets, announced today that it has closed on its $12.2 million Series C round of financing. The financing, led by Canaan Partners, included a new investment from Foundation Medical Partners, and additional investments from existing investors, including Alta Partners, Asset Management Company, Spring Ridge Ventures, Pacific Asset Partners, Trellis 1. Trellis - An object-oriented language from the University of Karlsruhe(?) with static type-checking and encapsulation. 2. Trellis - An object-oriented application development system from DEC, based on the Trellis language. (Formerly named Owl). Health Ventures, and other investors. Representing the lead fund, Brent Ahrens, principal of Canaan Partners, joins the Coapt Systems Board of Directors. "We believe Coapt Systems has the potential to be a 'home run' with a combination of truly unique technology for a vast market, along with an experienced management team and flawless execution," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Brent Ahrens, principal at Canaan Partners. The funding will be used to accelerate product development efforts to further the company's intellectual property and expand into new clinical applications. The funds will also be used to support initial commercialization of company's first product, the ENDOTINE(TM) Forehead, a device for the fixation of forehead tissue in facial plastic surgery. About Coapt Systems Palo Alto-based Coapt Systems was founded in 2000 to develop, manufacture and market bioabsorbable implants designed for the plastic, reconstructive, sports medicine and orthopedic trauma markets. Based on its patented MultiPoint Technology, Coapt products are designed to provide reliable mechanical fixation throughout the post-operative healing period and eventually absorb as biological fixation takes over. Our devices will also be designed to improve existing methods for the reattachment reattachment, n in dentistry the reattachment of the gingival epithelium to the surface of the tooth. reattachment The reanastomosis of a thing detached. See Penile reattachment. of ligaments and tendons that have been torn as a result of trauma. Surgical applications, as they become available, will include browlift, midface lift, and lower eye suspension, as well as hand tendon, shoulder and ACL See access control list. 1. ACL - Access Control List. 2. ACL - Association for Computational Linguistics. 3. ACL - A Coroutine Language. A Pascal-based implementation of coroutines. ["Coroutines", C.D. repair. Coapt's first product, the ENDOTINE Forehead, has been cleared by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. for browplasty and is currently available for sale in the U.S. For further information, visit www.coaptsystems.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion