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:5/4/2016)... ... ... Proove Biosciences, Inc. , the commercial and research leader in personalized ... The partnership is designed to advance research in pain genetics in an effort to ... the new agreement, researchers at Proove Biosciences are able to collaborate with Luda Diatechnko, ...
(Date:5/4/2016)... New York , May 4, 2016 ... by Transparency Market Research "Metabolomics Market - Global Industry ... 2024", the metabolomics market is anticipated to expand at ... reach USD 2,494.8 million by 2024. Metabolomics ... as metabolites, within cells, biofluids, tissues or organisms. Together, ...
(Date:5/3/2016)... , May 3, 2016 ... (Genomics, Drug Discovery, Gene Expression) Lab-on-a-chip (IVD ... (Academics Institutes, Diagnostics Centers), Fabrication Technology (Microarrays, ... MarketsandMarkets, the market is expected to reach ... 7.63 Billion in 2015, growing at a ...
(Date:5/3/2016)... Boston, Massachusetts (PRWEB) , ... May 03, 2016 ... ... communities will gather at Boston CEO 2016 on May 31st and June 1st ... off-the-record networking forum for leading executives in the life sciences, offering exclusive access ...
Breaking Biology Technology:
(Date:3/10/2016)... 10, 2016   Unisys Corporation (NYSE: UIS ... (CBP) is testing its biometric identity solution at the ... to help identify certain non-U.S. citizens leaving the country. ... designed to help determine the efficiency and accuracy of using ... and will run until May 2016. --> ...
(Date:3/9/2016)... HAMBURG, Germany , March 9, 2016 ... African country,s government identified that more than 23,000 public ... name or had been receiving their salary unlawfully.    ... West African country,s government identified that more than 23,000 ... recorded name or had been receiving their salary unlawfully. ...
(Date:3/8/2016)... 2016   Valencell , the leading innovator ... has secured $11M in Series D financing. The ... venture fund being launched by UAE-based financial services ... investors TDF Ventures and WSJ Joshua Fund. Valencell ... triple-digit growth and accelerate its pioneering innovation in ...
Breaking Biology News(10 mins):