Navigation Links
Atritech Announces Completion of a $22 Million Equity Financing
Date:9/5/2007

Capital will fund company through end of clinical trial

MINNEAPOLIS, Sept. 5 /PRNewswire/ -- Atritech, Inc., a clinical stage medical device company, announced today that it has completed a $22 million round of financing. SightLine Healthcare Vintage Fund led the round along with substantial commitments from the existing investors including Prism Venture Partners, the lead from the last round. In the past 18 months, the Company has raised approximately $45 million in capital.

With this new funding, the Company will complete the enrollment phase of its PROTECT AF clinical trial along with the preparation and submission of clinical results to the FDA. The PROTECT AF clinical trial is evaluating the WATCHMAN(R) device versus the current standard of care, Coumadin, in patients with AF. The PROTECT AF clinical trial is being conducted in 60 sites across the United States and Europe and is in the final stage of enrollment with approximately 600 patients enrolled, of which 300 patients have been enrolled since the beginning of the year.

Atritech's WATCHMAN(R) device is designed to keep harmful sized blood clots from entering a patient's blood stream, potentially causing a stroke. Patients with atrial fibrillation (a heart condition which causes the upper chambers of the heart to beat too rapidly) are at a significantly greater risk of having a stroke. Typically these patients require blood thinning medications to prevent these clots from forming in the heart. Current blood thinning medications require frequent monitoring and have diet and other drug interactions. Moreover, there are many serious complications including severe bleeding.

This financing follows the Company's acquisition in June of intellectual property from ev3, Inc. relating to closure devices within the left atrial appendage. This acquisition of over 60 patents together with the Company's broad patent portfolio and clinical trial success establishes the Company as the clear leader in the left atrial appendage closure market.

"The recent acquisition of ev3's intellectual property and the continued progress of the PROTECT AF clinical trial have Atritech well positioned in this emerging market," said Buzz Benson, Managing Director, SightLine Partners. "We believe the WATCHMAN(R) device may prove to be a key element in protecting AF patients at an increased risk of stroke. We are excited to be the lead investor in this round of financing."

"The continued support of our existing investor group further validates our innovative approach to stroke prevention in patients with atrial fibrillation and potential market opportunity," said Jim Bullock, President & CEO of Atritech. "With strong enrollment, the FDA submission on the horizon, and the recent intellectual property acquisition, we are positioned to be the market leader," added Bullock.

About Atritech

Atritech is privately held and based in Plymouth, Minnesota. Major investors in Atritech include SplitRock Partners, Prism Venture Partners, Tullis-Dickerson Partners, The Vector Group, Thoma Cressey Funds, SightLine Funds and Affinity Capital. For more information, visit http://www.atritech.net.

About SightLine Partners

SightLine Partners LLC is a Minneapolis, MN based venture firm that manages a series of funds that invest in promising emerging growth companies in the medical device industry. For more information, visit http://www.sightlinepartners.com.


'/>"/>
SOURCE Atritech, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine technology :

1. Antisoma Announces Further Data From ASA404 Ovarian Cancer Trial
2. Sygnis Pharma AG announces date for presentation of clinical results
3. Neose Announces Presentation of Positive Preclinical Data on GlycoPEGylated Factor VIIa at the XXI Congress of the International Society on Thrombosis and Haemostasis
4. Biofrontera AG Announces Clinical Study Confirms Excellent Efficacy of BF-200 ALA In Actinic Keratosis
5. YM BioSciences Announces Secondary Efficacy and Safety Findings in Randomized Phase IIB Aerolef Trial
6. BioSante Pharmaceuticals Announces New Findings for Potential Bird Flu Vaccine
7. Portola Pharmaceuticals Announces Positive Data from a Phase II Study of its Factor Xa Inhibitor at the XXI Congress of the International Society on Thrombosis and Haemostasis
8. Manhattan Pharmaceuticals Announces Results of Phase 2a Studies for Oral Oleoyl-estrone
9. AVI BioPharma Partner Cook Medical Announces Completion of Patient Enrollment for APPRAISAL Phase II Clinical Trial for Treatment of Cardiovascular Disease
10. Protox Announces Positive Clinical Data from Prostate Cancer Study
11. Inspire Announces Webcast of Presentation at C.E. Unterberg, Towbin Emerging Growth Opportunities Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016   Bay Area Lyme Foundation , ... Center for Tick Borne Illness , Harvard Medical ... Hacking Medicine, University of California, Berkeley, and the ... five finalists of Lyme Innovation , the ... 100 scientists, clinicians, researchers, entrepreneurs, and investors from ...
(Date:6/24/2016)... June 24, 2016 The Academy of Managed ... recommendations that would allow biopharmaceutical companies to more ... that make formulary and coverage decisions, a move that ... new medicines. The recommendations address restrictions in ... on the drug label, a prohibition that hinders decision ...
(Date:6/24/2016)... 24, 2016 Research and Markets has ... Companion Diagnostic Tests" report to their offering. ... Diagnostics The World Market for Companion Diagnostics ... diagnostics. Market analysis in the report includes the following: ... Vitro Diagnostic Kits) by Region (N. America, EU, ROW), 2015-2020 ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now ... of Final Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. ... Final Cut Pro X users can now reveal the media of their split ...
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution is ... emergency ambulance transport experience for the millions of people who require these medical ... the taxi industry through the use of technology. Now, SmartEMS has put forth ...
(Date:6/26/2016)... ... June 26, 2016 , ... On June 10-11, 2016, A ... 2016 Cereal Festival and World’s Longest Breakfast Table in Battle Creek, MI, where the ... history as home to some of the world’s leading providers of cereal and other ...
(Date:6/26/2016)... ... , ... Brent Kasmer, a legally blind and certified personal trainer is helping to develop a ... fitness app plans to fix the two major problems leading the fitness industry today:, ... type program , They don’t eliminate all the reasons people quit their exercise ...
(Date:6/25/2016)... ... , ... Austin residents seeking Mohs surgery services, can now turn to Dr. ... Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include ... in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn ...
Breaking Medicine News(10 mins):