Navigation Links
Ascension Orthopedics Closes $21 Million Financing and Recruits an Orthopedics Industry Veteran as CEO

Proceeds to assist with expansion of Ascension's product line and

distribution network

AUSTIN, Texas, Jan. 21 /PRNewswire/ -- Ascension Orthopedics, Inc., an emerging medical device company that develops, manufactures and markets joint replacement, trauma and tissue regeneration surgical implants for use in upper and lower extremities, announced today that it has secured $21 million in a Series D financing. This new round of funding will be used primarily to expand the current product line and enhance the Company's product marketing and distribution network.

Leading this Series D financing as the majority investor is Frazier Healthcare Ventures, one of the nation's leading providers of venture and growth equity capital to emerging healthcare companies. Alan Frazier, General Partner and Founder of Frazier Healthcare Ventures will join Trevor Moody, General Partner of Frazier Healthcare, and Steven Tallman, Venture Partner of Frazier Healthcare on Ascension's Board of Directors.

"We feel that Ascension is uniquely positioned to experience substantial revenue growth with the expansion of its distribution network and product line and are pleased to have the opportunity to be a part of this growth development," comments Trevor Moody, General Partner of Frazier Healthcare.

In addition to this financing, Ascension Orthopedics is pleased to announce that Mr. Andrew J. Miclot will join the company as CEO. Mr. Miclot brings more than 25 years of experience in executive management and marketing within the orthopedic industry. He was most recently Global Senior Vice President of Marketing Orthopedics at Orthofix. Prior to this, he held senior positions at leading medical device companies including Symmetry Medical, DePuy and Zimmer. During his 13 years at Symmetry Medical, where he held a variety of senior positions including Senior Vice President and Investor Relations Officer, Andy played a meaningful role in growing Symmetry's annual revenues from approximately $10MM to over $260MM. "I am very excited to have joined Ascension Orthopedics and to have the opportunity to work with the existing management team and board of directors. Ascension is uniquely positioned for significant growth in the orthopedics extremities marketplace," said Mr. Miclot.

"I am extremely pleased Frazier Healthcare Ventures has the confidence in Ascension to provide this important round of equity financing that will enable us to expand further on the key cornerstones of our business -- product innovation and marketing," said Jerome Klawitter, PhD. Founder, Chief Scientific Officer and former CEO. "I look forward to turning over my CEO duties to Mr. Miclot and working with him to leverage our respective backgrounds in product innovation and product marketing."

About Ascension Orthopedics, Inc.

Ascension Orthopedics began product development in Austin, Texas in 1996 and in 2001 received FDA PMA approval for its first product, an innovative pyrolytic carbon total joint replacement for the MCP (Knuckle) joint of the hand. The company has since increased its joint replacement product line to include implants for the shoulder, elbow, wrist, fingers and toes. In addition to joint replacements, Ascension Orthopedics offers trauma products to treat bone fractures occurring in the hand and arm as well as the foot and ankle. Ascension also markets tissue regeneration products for the upper and lower extremities, including implants that help reconnect severed nerves and implants intended to reduce adverse tissue adhesions that often occur following surgical procedures. Ascension Orthopedics sells product in the United States and in more than 20 foreign countries worldwide.

About Frazier Healthcare

Founded in 1991 and with more than $1.8 billion of capital under management, Frazier Healthcare is one of the nation's leading providers of venture and growth equity capital to emerging healthcare companies. Having invested in more than 100 emerging healthcare companies, Frazier Healthcare is well known for its depth of experience and the technical expertise of its investment team. This experience encompasses product development and launch, clinical trial implementation and design, industry operating experience, academic research and clinical practice. For further information, please visit


Andrew J. Miclot

President / CEO

Ascension Orthopedics, Inc.


SOURCE Ascension Orthopedics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Synergy Life Science Partners Closes $143M Debut Medical Device Fund
2. MM2 Group Closes Sale for New Fish Oil Product
3. NutraDyne, Inc. Closes Amended Exchange Agreement With Changchun Yongxin Dirui Medical Co., Ltd.
4. MM2 Group Closes $1.1 Million Sale
5. Danaher Closes Subsequent Offering Period for Tektronix; Acquires Over 90% of TEK Shares
6. BCP Veterinary Pharmacy Helps Cure Diabetic Cats with BCP PZI(R), the Closest Match to Feline Insulin Available
7. NovaBay Pharmaceuticals Closes Initial Public Offering of Common Stock
8. Pfizer Closes La Jolla Campus Due to Continuing Fire Emergency
9. Nexia Closes Acquisition of Green Endeavors; Landis Salons On Track to Generate Revenues of $2.2 Million in 2007
10. MediKeeper Closes Series A Financing Round with PacifiCap as Lead Investor
11. Stryker Discloses Informal Inquiry Made by United States Securities and Exchange Commission
Post Your Comments:
(Date:11/27/2015)... ... 2015 , ... The moment you stop improving is the ... the needs of advisers and clients but going above and beyond to find ... service. However, there's always room for improvement, which is why the entire Consulting ...
(Date:11/27/2015)... ... 27, 2015 , ... CBD College is proud to announce that ... awarded accreditation to its Diagnostic Medical Sonography program. CBD College is honored to join ... twelve colleges and universities in the state of California make the cut. CBD College ...
(Date:11/27/2015)... Rosa, CA (PRWEB) , ... November 27, 2015 , ... ... Northern California Medical Associates, Inc. and Dr. Tucker Bierbaum with Emergency Medicine at ... meeting. They observed that both STEMI and Sepsis conditions present in similar ways and ...
(Date:11/27/2015)... ... 2015 , ... Indosoft Inc., developer and distributor of the ... LTS (Long Term Support) into its Q-Suite 5.10 product line. , Making the ... a version of Asterisk that will receive not only security fixes, but feature ...
(Date:11/26/2015)... ... , ... Inevitably when people think Thanksgiving, they also think Holiday sales and ... Friday and Cyber Monday massage chair sales to receive the best pricing ... to find the best massage chair deals, they can see all of the coupons ...
Breaking Medicine News(10 mins):
(Date:11/27/2015)... , Nov. 27, 2015 Research and Markets ... "Global Intrauterine Devices Market 2015-2019" report to ... --> In this report, the author the present ... market for 2015-2019. To calculate the market size, the ... type of products: Hormonal IUDs and copper IUDs. The ...
(Date:11/26/2015)... Países Bajos, November 26, 2015 ... fotodinámica de Bremachlorin para el cáncer avanzado.   ... con la terapia fotodinámica de Bremachlorin para el cáncer ... enfoque combina la inmunoterapia con la terapia fotodinámica de ... Clinical Cancer Research . --> Clinical Cancer ...
(Date:11/26/2015)... November 26, 2015 ... nieuwe aanpak combineert immunotherapie met Bremachlorin-photodynamische therapie ... ) --> ... (Photo: ) ... Medisch Centrum (LUMC) blijkt ...
Breaking Medicine Technology: