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)... Calif. , June 24, 2016  Global ... a biopharmaceutical company developing novel therapeutics for the ... needs, today announced the closing of its previously ... common stock, at the public offering price of ... the offering were offered by GBT. GBT estimates ...
(Date:6/24/2016)... Dehaier Medical Systems Ltd. (NASDAQ: ... and sells medical devices and wearable sleep respiratory products ... cooperation agreement with Hongyuan Supply Chain Management Co., Ltd. ... 20, 2016, to develop Dehaier,s new Internet medical technology ... will leverage Hongyuan Supply Chain,s sales platform to reach ...
(Date:6/24/2016)... Belgium , June 24, 2016 /PRNewswire/ ... announced the appointment of Dr. Edward Futcher ... a Non-Executive Director, effective June 23, 2016.Dr. Futcher ... and Nominations and Governance Committees.  As a non-executive ... provide independent expertise and strategic counsel to VolitionRx ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... June 25, 2016 , ... The temporary closing of Bruton Memorial Library on June ... , brings up a new, often overlooked aspect of head lice: the parasite’s ability to ... is not a common occurrence, but a necessary one in the event that lice have ...
(Date:6/25/2016)... ... 2016 , ... On Friday, June 10, Van Mitchell, Secretary of the Maryland ... iHire in recognition of their exemplary accomplishments in worksite health promotion. , The Wellness ... & Wellness Symposium at the BWI Marriott in Linthicum Heights. iHire was one of ...
(Date:6/24/2016)... PASADENA, CA (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. ... he would lash out at his family verbally and physically. , “When something upset him, ... table, he would use it. He would throw rocks at my other children and say ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway ... call for a minimum wage raise to $12 an hour by 2020 and then adjusting ... restore the lost value of the minimum wage, assure the wage floor does not erode ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... the Frederick area economy by obtaining investment capital for emerging technology companies. ... years that have already resulted in more than a million dollars of capital ...
Breaking Medicine News(10 mins):