WOBURN, Mass., April 18 /PRNewswire/ -- VisEn Medical, Inc., a leader in fluorescence in vivo imaging, today announced the expansion of its Series B financing. Merck Capital Ventures and Flagship Ventures co-led this $5.0 million expansion of the Series B round, which initially raised $7 million in November 2007, bringing the total Series B financing amount to $12.0 million. VisEn will use the additional financing to further advance its proprietary fluorescence in vivo imaging product pipelines, and to expand its commercial applications and customer support of its marketed products worldwide.
"We are pleased to have Merck Capital and Flagship Ventures deepen and extend their support of our company and our programs," said Kirtland Poss, President and Chief Executive Officer of VisEn Medical. "Based on our progress since the first Series B closing, the results that customers are achieving with our systems and agents, some key new product launches, and the strong commercial traction we are already seeing in 2008, our Board and our investors have decided to increase their support to accelerate our growth."
"We invest in emerging companies with proven technologies that support the pharmaceutical industry," said Per Lofberg, President and Chief Executive Officer of Merck Capital Ventures and a member of the Board of VisEn. "VisEn is a market leader in fluorescence in vivo imaging pre-clinically, and well positioned to advance into human clinical trials with its technology platforms. These translational linkages are of growing importance in the pharmaceutical and healthcare industries, and we are pleased to participate in this opportunity."
Ed Kania, Chairman of VisEn Medical and Managing Partner of Flagship
Ventures noted, "We see tremendous value and promise in VisEn's
technologies and products, its deep customer relationships with a growing
number of leading pharmaceutical companies, and its early progress driving
the translation of its precl
|SOURCE VisEn Medical, Inc.|
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