InSet Technologies Completes $25 Million...( - Financing Led by Clarus Ventures - ...),Health

- Financing Led by Clarus Ventures -

MOUNT OLIVE, N.J., Jan 12 /PRNewswire/ -- InSet Technologies, an emerging leader in the development of programmable implantable pumps for targeted delivery of medication, announced today the closing of equity financing totaling $25 million.

Clarus Ventures, a life sciences venture capital firm, led the round and was joined with a follow-on investment by FatBoy Capital, LP. In conjunction with the financing, Kurt C. Wheeler of Clarus Ventures will join the InSet Technologies' Board of Directors.

"Our investment in InSet Technologies validates their remarkable achievement of key company milestones over a very short period of time," stated Kurt C. Wheeler, Managing Director, Clarus Ventures. "With this new financing, InSet Technologies is well positioned to finalize its regulatory path towards approval, build its sales and marketing team in advance of launch and rapidly grow its innovative product portfolio."

"Completion of our financing in this difficult economic environment is a strong testament to the value of our technology, the progress of our company, and the insight of Clarus Ventures and our other investors. With this funding, we look forward to continuing our progress to provide new therapeutic options to both physicians and patients," said Steve Adler, President and CEO of Inset Technologies. "Additionally, we are excited to have Kurt Wheeler join our Board of Directors. Kurt brings 25 years of experience successfully commercializing medical device companies to InSet Technologies' Board."

About InSet Technologies

InSet Technologies Incorporated (www.insetinc.com) is a privately-held company solely focused on developing totally implantable pumps delivering targeted medications directly to the spinal cord (intrathecal space) to achieve potentially improved funct
'/>"/>