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:4/20/2017)... 20, 2017 Research and Markets has ... Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, ... their offering. ... pharmacogenomics market was valued at US$ 7,167.6 Mn in 2015, ... expanding at a CAGR of 5.6% from 2016 to 2024. ...
(Date:4/20/2017)... , April 20, 2017 Research and ... Pharmaceutical Contract Manufacturing Services Market Analysis By Service (Manufacturing, Research), ... Forecasts, 2014 - 2025" report to their offering. ... The Latin American pharmaceutical ... billion by 2025 Low drug registration cost in ...
(Date:4/19/2017)... The Mobile X-Ray product segment is the most attractive market ... period Mobile X-Ray segment is the largest segment ... market, which is estimated to be valued at more than ... 7% over the forecast period. Mobile X-Ray segment is expected ... Mn in 2017 over 2016. The segment,s revenue in the ...
Breaking Medicine Technology:
(Date:4/25/2017)... , ... April 25, 2017 , ... ... large animal healthcare products, is introducing Flexadin UCII, part of the EQUISTRO line, ... development and joint health in horses at the immunologic level. , The scientifically-developed ...
(Date:4/24/2017)... ... April 24, 2017 , ... ... Bring Your Own Device (BYOD) capabilities at Telehealth 2.0, the American Telemedicine Association’s ... bundles, which pairs medical devices with a pre-programmed tablet in a remarkably easy-to-use ...
(Date:4/24/2017)... ... April 24, 2017 , ... Ridgecrest Herbals makes it a ... new strategies to reduce waste, and support renewable energy. They believe this is a ... nature to find solutions for health issues, and maintain that destroying the environment in ...
(Date:4/24/2017)... ... ... The bar for just about everything—apparel, eyewear, cars and even phone cases—is ... and film stardom.(1) Not to be left out is that most desired of commodities, ... gamut from being encrusted with jewels and precious metals to, at the very least, ...
(Date:4/24/2017)... ... ... Sean Fay is the undisputed king of the infomercial. With clients as ... Foreman Grill (which sold more than 100 million units worldwide), he has created more ... due to changes in the broadcast media landscape, the once ever-present infomercial has gone ...
Breaking Medicine News(10 mins):