Navigation Links
InSet Technologies Completes $25 Million Financing
Date:1/12/2009

- 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 functional relief with a dramatic reduction in the side effects from high doses of drugs for chronic pain, cancer pain and spasticity, a market potential in excess of $5 billion.

About 70 million people in the United States live with chronic pain. According to the National Institutes of Health, the annual cost of chronic pain in the United States, including healthcare expenses, lost income, and lost productivity, is estimated to be $100 billion, more than heart disease and cancer combined.

CAUTION: Prometra(R) pumps are Investigational Devices which have not yet been approved by the FDA.

About Clarus Ventures

Clarus Ventures is a life sciences venture capital firm founded by a team of accomplished investment professionals with extensive and complementary industry backgrounds which have enabled them to establish a long history of success in creating value. Their deep relationships with world thought leaders and decision makers allow this team to identify unique investment opportunities and shepherd them to maturity. Clarus augments its core expertise of investing in biopharmaceuticals and medical technology companies with the deep and diverse expertise of the team in research and development, commercialization, business development and operations management at the global level. Clarus is based in Cambridge, MA and San Francisco, CA and presently manages over $1.2 billion across two life-sciences dedicated funds.

For additional information on Clarus Ventures, please visit www.clarusventures.com.


'/>"/>
SOURCE InSet Technologies
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Toxic Poinsettias? Hangover Cures? It May Be All Fiction
2. HotHead Technologies Working with Schutt Sports to Develop Smart Helmet
3. STEMCELL Technologies Launches Direct Distribution to Singapore
4. BNC Technologies Selects Raima Database Manager Embedded
5. VNUS Medical Technologies to Present at 27th Annual J.P. Morgan Healthcare Conference
6. Patient Safety Technologies Announces Expansion of Senior Management Team
7. TeleTracking Technologies to Focus on Growth
8. Global Med Technologies Software Chosen to Automate Indiana Hospital Transfusion Center
9. DiFUSION Technologies Announces Company Launch Focused on Surgical Site Infections (SSIs)
10. China Medical Technologies Announces the Completion of the Sale of its HIFU Business
11. 5,000 Medical Leaders Report Latest Advancements in Biomedical Technologies; Breakthroughs by 2015 Predicted for Alzheimer's, Heart Disease, Cancer, and Diabetes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... , ... The annual time frame to change Medicare health and prescription drug ... 7th. Currently-enrolled Medicare beneficiaries who are looking to switch from their current plan to ... make changes during this period order for their new policy to go into effect ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... of two ostomy patients, standing as living proof that attitude and determination can ... diseases and issues that spike around the holidays. This campaign will offer patients ...
(Date:12/2/2016)... , ... December 02, 2016 , ... ... of "Cardiovascular Health" in USA Today, which covers the innovative treatments, therapeutic technologies, ... while maintaining fulfilling lives. “We are prolonging life 6 years in the last ...
(Date:12/2/2016)... ... December 02, 2016 , ... Universal Medical Systems, Inc. ... the first company to offer robotic imaging to veterinary medicine is sponsoring the ... 941 for the American Association of Equine Practitioners 62nd Annual Convention from December ...
(Date:12/2/2016)... Texas (PRWEB) , ... December 02, 2016 , ... Yisrayl ... that delves into how this current generation fits into Bible Prophecy. Yisrayl says this ... various facts pointing to this conclusion, showing how the details line up exactly with ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... 2, 2016  The Addiction Treatment Advisory Group ... Managed Care Pharmacy (AMCP), has released detailed findings ... the opioid addiction crisis, including through improved access ... ATAG,s newly released paper, "The Role of ... addresses many issues around gaps and barriers to ...
(Date:12/2/2016)... , Dec. 2, 2016  Maxor National Pharmacy Services, LLC ... Pharmaceutical Specialties, Inc. ("PSI").  The combination of Texas ... Georgia -based PSI bring together both company,s clinical expertise ... and payers an industry-leading specialty pharmacy. About Maxor ... , , ...
(Date:12/2/2016)... R.I. , Dec. 2, 2016 CVS ... its annual Analyst Day in New York City on Thursday, December 15, ... CVS Health leadership team will provide an in-depth review ... enhance shareholder value. The company will also discuss 2017 ... and video webcast of the event will be broadcast ...
Breaking Medicine Technology: