Navigation Links
Mederi Therapeutics Closes Funding of $18.5 Million
Date:12/23/2013

GREENWICH, Conn., Dec. 23, 2013 /PRNewswire/ -- Mederi Therapeutics Inc. announced today the closing on $18.5 million, comprised of Series B preferred stock and venture debt. Participating in this round were Acadia Woods Partners, LLC, Respiratory Diagnostics Inc., a subsidiary of Bio-Rad Laboratories, Inc., as well as a group of high net worth equity investors. Venture debt was provided by Horizon Technology Finance. The funds will be used to support and expand on the rapidly growing use of Mederi's Stretta therapy for Gastroesophageal Reflux Disease (GERD) and Secca therapy for Bowel Incontinence.

The overwhelming body of clinical data supporting Stretta's safety, efficacy and durability of effect has led to Mederi's rapid expansion. "Many device start-up companies launch with large sales forces and deep marketing budgets before gaining traction with clinical data and reimbursement. Mederi has strategically built sales and marketing as we gained such traction," said Will Rutan, CEO of Mederi. "This conservative approach has paid off, resulting in expanding insurance coverage domestically and abroad, significant growth in 2013, and product availability in almost 40 countries on a relatively small amount of investor capital."

"We are very pleased to have the support of all of our original investors plus a select new group, as well as the growing support of the medical community in our efforts to mainstream these safe and effective, minimally invasive therapies," continued Rutan.

The Value of a Safe, Effective, Low Cost Option
Mederi's radiofrequency treatments provide value to payers, providers and patients by offering safe, effective, durable and low-cost therapies.  Approximately 40 million Americans suffer from GERD, and 30% of those don't fully respond to medications. Stretta therapy for GERD is backed by more than 32 clinical studies showing up to 10 years of safe, durable symptom relief. These funds will allow Mederi to broaden Stretta's reach within the medical and patient communities, as it clearly addresses an unmet need in the treatment of GERD by providing an alternative to lifelong medications or surgery.

ABOUT MEDERI
Mederi Therapeutics manufactures and markets innovative medical devices that use radiofrequency energy to treat diseases of the digestive system, and holds over 80 patents in this technology. Mederi therapies — Stretta, for GERD and Secca, for Bowel Incontinence — have demonstrated clinical effectiveness in numerous studies; they are outpatient, minimally invasive and promote rapid recovery. Mederi is located in Greenwich, Connecticut. For more information visit www.mederi-inc.com.

Contact: Sheila Doyle, 203-930-9980, sdoyle@mederitherapeutics.com


'/>"/>
SOURCE Mederi Therapeutics Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. SkilaMederi and Qforma Announce Merger
2. SkilaMederi Names Ray Joske as Chief Commercial Officer
3. Aratana Therapeutics Provides 2013 Development Update
4. 2013 Report on the International Pain Management Therapeutics Market - Includes Forecast to 2018
5. Spark Therapeutics to Present at 32nd Annual J.P. Morgan Healthcare Conference
6. Updated Financial Standings, Company Announcements, and Customer-Centered Suggestions - Research Report on Perrigo, Thermo Fisher, DaVita, United Therapeutics, and Keryx Biopharmaceuticals
7. Sorrento Therapeutics Completes Acquisition of Concortis Biosystems
8. Portfolio Expansions, Product Data, and Announcements by Healthcare Companies - Research Report on Life Technologies, OncoMed, Halozyme Therapeutics, Infinity, and PTC Therapeutics
9. Circuit Therapeutics and Boehringer Ingelheim announce signature of a research partnership agreement to discover new approaches to treating psychiatric disorders
10. Cell Therapeutics Receives Remaining $5 million Under Existing Loan Financing Agreement
11. Halozyme Therapeutics Announces Executive Transitions
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/11/2017)... Oct. 11, 2017  True Health, a leader ... its effort during National Breast Cancer Awareness month ... risks. Research ... calculated that more than 10 million American women ... in BRCA1 or BRCA2 and have not had testing. ...
(Date:10/7/2017)... 6, 2017   Provista, a proven leader ... billion in purchasing power, today announced a new resource ... The Newsroom is the online home for case ... expert bios, news releases, slideshows and events. ... wealth of resources at their fingertips, viewers can also ...
(Date:10/4/2017)... Oct. 4, 2017 OBP Medical ... illuminating medical devices, today announced regulatory approval from ... Agency (or Agência Nacional de Vigilância Sanitária (ANVISA)) ... cordless surgical retractor with integrated LED light source ... illumination and exposure of a tissue pocket or ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out ... free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting ... children of all ages; it is a non-competitive, non-timed event, which is all about ...
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: the Christian history of ... Brink” is the creation of published author, William Nowers. Captain Nowers and his ... veteran, he spent thirty years in the Navy. Following his career as a ...
(Date:10/12/2017)... PALM CITY, Fla. (PRWEB) , ... October 12, 2017 , ... ... of cold therapy products, announced today the introduction of an innovative new design of ... the multipurpose pad so you get maximum comfort while controlling your pain while using ...
(Date:10/12/2017)... Malvern, PA (PRWEB) , ... October 12, 2017 , ... ... is the recipient of a 2017 Folio Magazine Eddie Digital Award for ‘Best ... New York City on October 11, 2017. , The annual award competition recognizes editorial ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... of $3,296 in property taxes a year. In some states—like New York, New ... , By contrast, many overseas retirement havens have extremely low property-tax rates, which ...
Breaking Medicine News(10 mins):