LAGUNA HILLS, Calif., Aug. 3, 2011 /PRNewswire/ — Vessix
Vascular, Inc. (formerly known as Minnow Medical, Inc.), a
developer of novel percutaneous radiofrequency (RF) balloon
catheter technology, announced today that it has completed a $23
million Series B preferred stock financing.
The lead investor in the financing round was Edmond de
Rothschild Investment Partners (EdRIP) of Paris, France. Also
participating in the financing was NY-based OrbiMed Advisors, CDF
Dinova Venture Partners of Hong Kong along with existing investors
NeoMed Management, Christopher Weil & Company and Laguna
Hills-based Fjord Invest LLC. Subsequent to the close of the
transaction, Raphael Wisniewski of EdRIP and Vince Burgess of
OrbiMed have been appointed to the Vessix Board of Directors.
Use of proceeds from the financing will provide working capital
to accelerate product development initiatives and funding for a
series of multi-center clinical trials to further expand clinical
indications for the Company’s patented RF balloon catheter
technology.
In conjunction with the financing, Vessix Vascular established a
European subsidiary based in Paris to support planned European
clinical studies and anticipated commercial product launches.
Raymond W. Cohen, Chief Executive Officer of Vessix, said, “We
are encouraged that this group of world class investors and
strategic partners has recognized the potential of the Vessix
technology and the large patient populations that could benefit
from commercialization of our products. Over the next year, we
intend to move into a number of new clinical applications where our
technology is well suited.”
About EdRIP – Paris-based Edmond de Rothschild
Investment Partners is dedicated to investments into privately
owned companies. It has currently more than euro 800 million under
management invested primarily as life sciences venture capital and
growth capital. The life sciences team consists of seven
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