Navigation Links
Concentric Medical Closes on $15 Million Financing
Date:1/8/2009

MOUNTAIN VIEW, Calif., Jan. 8 /PRNewswire/ -- Concentric Medical, Inc., the global leader in devices for clot removal in ischemic stroke patients, today announced that it has completed a $15 million round of financing. The round was led by leading venture capital firm New Enterprise Associates, Inc. (NEA) and includes other existing investors and new investors.

"The positive developments at Concentric over the last several months made the opportunity to participate in this round of financing very attractive to investors," said Robert Thomas, Chairman of Concentric's Board of Directors. "Concentric ended 2008 very successfully, launching multiple new products and expanding its distribution footprint both in the United States and in Europe. Concentric plans to accelerate market development through diversified technology and additional clinical trials, positioning the company well for 2009 and beyond."

Commenting on this announcement, Maria Sainz, President and Chief Executive Officer of Concentric said, "This show of support, particularly in the current financial environment, is very gratifying and represents a strong vote of confidence for the company's strategic plans going forward."

Business Developments

Significant activities during recent months include:

In July 2008, Concentric launched its third generation of Merci Retrievers(R), the V-Series, which incorporates elements of the Merci(R) X6 Retriever and the Merci(R) L-Series Retrievers into an innovative variable pitch design. The V-Series is available in multiple configurations and sizes to match patient anatomy, and further extends the company's lead in the acute ischemic stroke market.

In September 2008, Concentric expanded its global distribution network by opening Concentric Medical SPRL, a Belgian subsidiary dedicated to providing sales and marketing support to Concentric Medical, Inc.'s European sales force. During the second half of 2008 Concentric doubled the size of its European sales team.

In October 2008, Concentric launched the Outreach(TM) Distal Access Catheter, a highly deliverable, small diameter catheter designed to provide distal access and support in tortuous anatomy. The Outreach Distal Access Catheter provides neurointerventionalists easier distal access and enhanced support during minimally invasive procedures in the brain, and will serve as the platform for a wide array of products Concentric plans to release during 2009.

About Concentric Medical

Concentric Medical is located in Mountain View, California, and was founded in August 1999. The company manufactures and markets the Merci Retrieval System(TM), which is a minimally invasive device that is delivered by a neurointerventionalist into the brain to restore blood flow by removing blood clots that cause ischemic stroke. The Merci Retrieval System is available in over 250 leading stroke centers around the world, and has been the subject of two successful clinical trials, MERCI and Multi MERCI. Concentric Medical estimates that over 9,800 patients have been treated with its devices. For more information about Concentric Medical, please visit www.concentric-medical.com.

    Media Contact: Andrew Chmyz
    1 650-810-1702
    achmyz@concentric-medical.com


'/>"/>
SOURCE Concentric Medical
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Concentric Named Professional Agency of Record for Discovery Labs SURFAXIN(R)
2. Concentric Medical(R) Announces Co-Marketing Agreement With InTouch Health(R) to Advance Acute Ischemic Stroke Care
3. Concentric Wins Full-Service Professional Assignment From Biopharm Innovator Neuromed
4. China Sky One Medical, Inc. Qualifies for Preferential Income Tax Rate
5. Kiadis Pharma Appoints Dr. Maarten Egeler, MD PhD as Chief Medical Officer
6. Newly Available To Medical Device Manufacturers - Bluetooth Testing Equipment
7. Medical Machines Online Announces Release of a Brand New Philips HeartStart AED Defibrillator
8. BioLife Solutions Joins Prestigious Biomedical Excellence for Safer Transfusion Collaborative
9. China Sky One Medical, Inc. Receives Scientific Achievement Award
10. St. Josephs Hospital and Medical Center to Utilize Clinical InfoNET System for Physicians
11. ICU Medical Inc. and Health Robotics Announce Compatibility of CytoCare(TM) Robot and CLAVE(R) Needle-Free Connector to Enable Safer Hazardous Drug Handling
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... ... After several promising treatments in Panama using stem cell ... in Panama, a 6 year-old Duchenne’s muscular dystrophy patient received his first umbilical ... approval of a second application for a single patient, investigational new drug (IND) ...
(Date:5/26/2016)... ... May 26, 2016 , ... FireflySci has been manufacturing quartz ... all over the globe. Their cute firefly logo has been spreading to more ... makes spectrophotometer calibration standards that never require recalibration. These revolutionary standards have ...
(Date:5/25/2016)... ... May 25, 2016 , ... Thailand’s Board of Investment’s New ... San Francisco. Located at booth number 7301, representatives from the Thai Government, research ... the Thai biotechnology and life sciences sector. , Deputy Secretary General of ...
(Date:5/25/2016)... ... 25, 2016 , ... Founder of the Fitzmaurice Hand Institute ... surgery of the hand by the National Board of Physicians and Surgeons, as ... beyond in his pursuit of providing the most comprehensive, effective treatment for his ...
Breaking Biology Technology:
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
(Date:3/21/2016)... March 22, 2016 Unique ... passcodes for superior security   ... provider of secure digital communications services, today announced it ... and offer enterprise customers, particularly those in the Financial ... and voice authentication within a mobile app, alongside, and ...
(Date:3/15/2016)... March 15, 2016 Yissum Research Development ... technology-transfer company of the Hebrew University, announced today the ... sensing technology of various human biological indicators. Neteera Technologies ... million from private investors. ... the detection of electromagnetic emissions from sweat ducts, enables ...
Breaking Biology News(10 mins):