Navigation Links
Arbor Surgical Technologies Announces Series C Financing and Licensing Agreement with Medtronic
Date:1/28/2008

Proceeds to Fund U.S. Clinical Trials of Trilobal Tissue Heart Valve and

Implantation Technologies

IRVINE, Calif., Jan. 28 /PRNewswire/ -- Arbor Surgical Technologies, Inc., a privately held medical device company, announced today the closing of a $20 million dollar Series C financing round. Medtronic Inc. led the investment as part of a licensing agreement that was reached between the two companies. The agreement provides Medtronic with manufacturing, marketing and distribution rights to Arbor's advanced trilobal pericardial valve technologies. Financial terms of the license agreement have not been disclosed. Arbor retains exclusive rights to the modular Trilogy(TM) Aortic Valve System and sutureless TRE(TM) implantation technologies. "I am truly excited about this opportunity." said Dr. John Liddicoat, Vice President and General Manager of Medtronic Structural Heart Disease. "No other comparable technology is on the horizon." Existing Arbor investors also participated in this new round of financing. With the closing of this event, Arbor has raised approximately $54 million dollars to date.

"We are excited to complete this milestone round of financing. Recognition from such a major player in the industry confirms the value of our technology," said Steve Bacich, President and Chief Executive Officer of Arbor. "This financing event will allow us to expand clinical trials of our core technologies, the Trilogy(TM) Aortic Valve System and the sutureless TRE(TM) implantation tool. These devices are designed to enable more surgeons to perform minimally invasive heart valve procedures. We believe that the adoption of Arbor's products will improve the lives of heart valve patients worldwide."

About Arbor Surgical Technologies, Inc.

Arbor Surgical Technologies, Inc., (http://www.arborsurgical.com) with facilities in Irvine and Portola Valley, CA (USA), is a privately held cardiovascular device company focused on the minimally invasive heart valve replacement market. Founded in 2002 by Dr. Thomas J. Fogarty and noted valve designer, Ernie Lane, Arbor is developing technologies intended to deliver significant clinical benefits to patients worldwide. The Trilogy(TM) Aortic Valve System and TRE(TM) attachment technologies are designed to expand the use of minimally invasive heart valve procedures.

Contact:

Steve Bacich

President and CEO of Arbor Surgical Technologies, Inc.

949-598-8800

sbacich@arborsurgical.com


'/>"/>
SOURCE Arbor Surgical Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Harborview Medical Center in Seattle Receives Prestigious $100,000 Foster G. McGaw Prize for Excellence in Community Service
2. Ann Arbor SPARK Receives $3.75M from Michigans Company Formation & Growth Fund
3. Cardica and Intuitive Surgical to Host Educational Symposium on Advanced Techniques and Technologies in Robotic Coronary Revascularization and Mitral Valve Repair
4. Surgical and Trauma Wound Care Market to Tie Up $7 Billion in Sales by 2011
5. National Surgical Hospitals Acquires Majority Share of Houston-Area Surgery Center
6. MAKO Surgical Corp. Files Registration Statement for Initial Public Offering of Common Stock
7. CryoLife Signs Distribution Agreement for Inclusion of BioGlue(R) Surgical Adhesive in Hernia Repair Kit with Proxy Biomedical Surgical Meshes
8. New Orthopedic Surgical Robotics Company Opens Its Doors; Files with the FDA for Clearance of Its Flagship Product
9. Neptune Technologies receives GRAS notification in the United States
10. VNUS Medical Technologies to Report Fourth-Quarter 2007 Results and Webcast Teleconference on February 7
11. Delaware Court Denies Motion by SIGA Technologies Seeking to Dismiss PharmAthenes Legal Action in Breach of Contract Lawsuit Against SIGA
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2017)... ... April 27, 2017 , ... Oncolinx, a spin-out of the ... has truly taken their cancer research out of this world. On April 22, ... Canaveral to the International Space Station’s (ISS) U.S. National Laboratory, managed by the ...
(Date:4/27/2017)... ... 2017 , ... This month Quorum Review IRB ... research studies, accelerates study startup, and improves participant engagement. Developed by Kinetiq ... first and only IRB-integrated eConsent solution . , “Our mission at Quorum is ...
(Date:4/27/2017)... ... April 27, 2017 , ... Sierra Instruments ... on capillary thermal mass flow technology provide exponentially more accurate mass flow data ... 80% of all industrial processes—such as those involving chemical reactions, combustion, respiration, pharmaceutical, ...
(Date:4/27/2017)... ... April 27, 2017 , ... The ... Communication Award goes to Jayson Lusk, a consummate communicator who promotes agricultural science ... advocate for science, as he explains how innovation and growth in agriculture are ...
Breaking Biology Technology:
(Date:4/11/2017)... DUBLIN , Apr. 11, 2017 Research ... Tracking Market 2017-2021" report to their offering. ... The global eye tracking market to grow at ... The report, Global Eye Tracking Market 2017-2021, has been prepared based ... report covers the market landscape and its growth prospects over the ...
(Date:4/11/2017)... MELBOURNE, Florida , April 11, 2017 ... "Company"), a security technology company, announces the appointment of independent ... John Bendheim to its Board of Directors, furthering the ... ... behalf of NXT-ID, we look forward to their guidance and ...
(Date:4/5/2017)... 5, 2017  The Allen Institute for Cell Science ... a one-of-a-kind portal and dynamic digital window into the ... the first application of deep learning to create predictive ... lines and a growing suite of powerful tools. The ... and future publicly available resources created and shared by ...
Breaking Biology News(10 mins):