Navigation Links
Cohera Medical, Inc. Announces Closing of Insider Round of Financing for Over $7.6 Million

PITTSBURGH, May 7 /PRNewswire/ -- Cohera Medical, Inc., a rapidly growing medical device company developing a suite of wound management systems and surgical adhesives, announced today that it has closed an insider round of financing for over $7.6 Million. The proceeds of this transaction will support the growth of the company through pilot clinical trials for its lead product, TissuGlu(R), a strong, resorbable surgical adhesive, as well as pre-clinical development of Cohera's product pipeline.

"Cohera has generated significant value since our last financing and this is reflected in the strong support from our shareholders," said Patrick Daly, President and CEO of Cohera Medical. "The team at Cohera is focused on developing world class products that improve patient care and we are excited about the future of the Company."

"As Cohera's largest investor through our affiliate Kern Medical, LLC, we are delighted to once again lead its investment round," said Jay Kern, Founder and General Partner of Kern Whelan Capital, LLC, and Manager of Kern Medical II. "Strong participation by existing investors in this financing reflects the significant accomplishments that Patrick and his team have made in developing Cohera's revolutionary line of adhesive products."

Cohera Medical, Inc. has made significant progress in developing its lead product TissuGlu(R) since the closing of the series A financing in July 2006. "The success of the insider round proves the faith and confidence existing investors have in the future of Cohera and the value created since the last round," said Dr. Doros Platika, Chairman of the Board for Cohera Medical. "This is further evidence that when outstanding technology is combined with a superb management team and a deep Board of Directors, a medical technology company can successfully thrive in Pittsburgh and attract capital from throughout the nation."

About Cohera Medical, Inc.

Cohera Medical, Inc. is developing a revolutionary line of wound management products and surgical adhesives. Our products are based on a unique chemical design that is purely synthetic, easy to use, biocompatible and fully resorbable. Our lead product in development, TissuGlu(R), is a sprayable bonding agent for plastic surgery procedures. TissuGlu(R) adheres flaps of tissue after surgical procedures, eliminating the spaces where fluid accumulates and reducing wound drainage. Pre-clinical testing has shown that TissuGlu(R) virtually eliminates seroma formation, one of the most common complications of abdominoplasty procedures. Cohera is also developing additional surgical adhesives targeting mesh fixation and small bone fixation, which will fill similar market needs in both orthopedics and general surgery. TissuGlu(R) and the other Cohera products have not yet been approved for medical use by the Food and Drug Administration (FDA) in the US or by any other country's regulatory authority.

Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company's future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.

SOURCE Cohera Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Tutogen Medical, Inc. to Present at the Roth Capital Partners 2007 New York Conference
2. Tutogen Medical, Inc. and Zimmer Holdings, Inc. Announce Agreement for International Distribution of Biological Products
3. Tutogen Medical, Inc. to Report Fourth Quarter and Fiscal Year 2007 Financial Results
4. Tutogen Medical, Inc. Reports Year-End Fiscal 2007 Financial Results
5. Nonin Medical, Inc. Receives Frost & Sullivans 2007 Award for Product Differentiation Innovation
6. Tutogen Medical, Inc. Reports First Quarter Fiscal 2008 Financial Results
7. Arobella Medical, LLC Launches Qoustic Wound Therapy System(TM)
8. SBT Acquisition Inc. Successfully Completes Tender Offer for Shares of Lifecore Biomedical, Inc.
9. Tryton Medical, Inc. Closes $14 Million Financing
10. China Sky One Medical, Inc. Acquires Heilongjiang Haina Pharmaceutical Inc.
11. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
Post Your Comments:
(Date:11/24/2015)... ... November 24, 2015 , ... The United States Golf Association ... 2016 USGA Green Section Award. Presented annually since 1961, the USGA Green Section Award ... work with turfgrass. , Clarke, of Iselin, N.J., is an extension specialist ...
(Date:11/24/2015)... Nov. 24, 2015 Halozyme Therapeutics, Inc. (NASDAQ: HALO ... New York on Wednesday, December 2 at ... , president and CEO, will provide a corporate overview. ... at 1:00 p.m. ET/10:00 a.m. PT . ... will provide a corporate overview. --> th Annual ...
(Date:11/24/2015)... ... 2015 , ... Copper is an essential micronutrient that all ... copper is also toxic to cells. With a $1.3 million award from the ... a systematic study of copper in the bacteria Pseudomonas aeruginosa (P. aeruginosa), a ...
(Date:11/24/2015)... - Aeterna Zentaris Inc. (NASDAQ:  AEZS) (TSX: AEZ) (the "Company"), ... Toronto Stock Exchange, confirms that as of the date ... that would cause the recent movements in the Company,s ... About Aeterna Zentaris Inc. . ... Zentaris is a specialty biopharmaceutical company engaged in developing ...
Breaking Biology Technology:
(Date:11/9/2015)... , Nov. 09, 2015 ... addition of the "Global Law Enforcement ... offering. --> ) has ... Law Enforcement Biometrics Market 2015-2019" report ... and Markets ( ) has announced ...
(Date:11/2/2015)...  SRI International has been awarded a contract of ... to the National Cancer Institute (NCI) PREVENT Cancer Program ... modern testing and support facilities, and analytical instrumentation to ... studies to evaluate potential cancer prevention drugs. ... Drug Development Program is an NCI-supported pipeline to bring ...
(Date:10/29/2015)... Daon, a global leader in mobile biometric ... new version of its IdentityX Platform , IdentityX ... have already installed IdentityX v4.0 and are ... FIDO UAF certified server component as an option ... features. These customers include some of the largest and ...
Breaking Biology News(10 mins):