Navigation Links
Nerites Corporation Announces Closing of Series A Funding Round
Date:2/15/2008

MADISON, Wis., Feb. 15 /PRNewswire/ -- Nerites Corporation, a company that develops novel tissue repair products and coatings for medical devices, today announced it has completed a $5.7 million Series A round of funding. Venture Investors LLC of Madison, Wisconsin, with participation by Black Mountain Ventures of Foster City, California, led the investment. Previously, Nerites had raised $3 million from private investors.

The company will use the funding to refine product development plans, begin product development and expand its business development plan for bringing the first tissue adhesive products on to the market.

"Early on, we benefited from very visionary private investors who allowed us to explore applications for our products and prove their effectiveness in a wide variety of settings," said Thomas J. Mozer, PhD, CEO and President of Nerites Corporation. "This funding will allow us to focus and accelerate development of applications for a handful of strategically chosen markets that represent tremendous investment opportunities and have a need for our breakthrough tissue adhesive technology."

"We believe Nerites' technology has the potential to address major unmet medical needs in a broad array of applications in significant growing markets. As we've gotten to know the technology and team, we've been impressed with the company's progress in developing prototype products for specific applications. We believe this is breakthrough technology that has the potential to provide performance superior to the best tissue adhesives, sealants and coatings in use now or out on the horizon," commented George Arida, Managing Director of Venture Investors.

About Nerites: Nerites Corporation develops novel tissue repair products as well as advanced coatings for implanted medical devices and device uses on skin based on unique "wet" adhesive compounds. These synthetic compounds are based upon research by Dr. Phil Messersmith at Northwestern University's Department of Biomedical Engineering on how marine mussels bind to surfaces underwater, are a breakthrough advance in biologically -- compatible adhesives that provide completely new options for tissue repair, skin adhesives, and device coatings. Nerites is based in Madison Wisconsin. (http://www.nerites.com)


'/>"/>
SOURCE Nerites Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Nerites Receives NIH Grant to Study Novel Treatment for Preventing Dangerous Bacterial Infections on Urinary Stents and Catheters
2. Psychemedics Corporation Announces Year End Results Record Annual and Quarterly Revenue
3. LodgeNet Interactive Corporation 2007 Earnings Release and Teleconference Announcement
4. Service Corporation International Declares Quarterly Cash Dividend
5. BioElectronics Corporation (BIEL) SqueezeTrigger Price is $0.11
6. Cardiogenesis Corporation to Report 2007 Fourth Quarter and Year-End Results on March 4th
7. Webcast Advisory - The Westaim Corporation Webcast of Conference Call to Discuss 2007 Fourth Quarter Results
8. General Atlantic and Hellman & Friedman Purchase HLTH Corporations Remaining Interest in Emdeon
9. Dialysis Corporation of America Announces Opening of New Dialysis Center in Ohio
10. HLTH Corporation Update
11. HLTH Corporation Sells its Minority Interest in Emdeon Business Services to General Atlantic and Hellman & Friedman for $575 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 26, 2016 , ... Brent Kasmer, a legally blind and certified personal trainer ... through a fitness app. The fitness app plans to fix the two major problems leading ... a one size fits all type program , They don’t eliminate all the ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand ... project," said Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s ... within Final Cut Pro X . Simply select a ProHand generator and drag ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension ... that it will receive two significant new grants to support its work to ... its 25th anniversary by recognizing patients, medical professionals and scientists for their work ...
(Date:6/24/2016)... , ... June 24, 2016 , ... People across the ... Genome magazine’s Code Talker Award, an essay contest in which patients and their families ... to be presented at the 2016 National Society of Genetic Counselors (NSGC) Annual Education ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016  In a startling report released today, ... their residents by lacking a comprehensive, proven plan to eliminate prescription ... definitive ranking of how states are tackling the worst drug crisis ... four states – Kentucky , New ... Vermont . Of the 28 failing states, three – ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... , June 23, 2016 , ... on Thursday, July 7, 2016 , , , , LOCATION: ... , , , , EXPERT PANELISTS:  , , , ... Senior Industry Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and ... The global pharmaceutical industry is witnessing an exceptional era. ...
Breaking Medicine Technology: