Cerapedics Secures $19 Million Series C Financing (press release)
http://www.cerapedics.com/
Cerapedics, Inc. announced that it recently completed a Series C round of private equity financing totaling $19 million led by new investors MedImmune Ventures and CVF, LLC, an affiliate of Henry Crown and Company. Existing investors including OrbiMed Advisors and NGN Capital also participated. In conjunction with the financing, Sam Wu, M.D., Ph.D., Managing Director of MedImmune Ventures, joined the Board of Directors.
“We are gratified with the response received from the financial community given the challenging economic environment present industry-wide. It is a direct reflection of the merits of the clinically tested i-FACTOR product portfolio and the team we have put in place globally”
Proceeds will be used to support the company’s ongoing activities with its current Investigational Device Exemption (IDE) clinical trial in the United States studying its i-FACTOR™ peptide enhanced bone graft for cervical spine applications and prepare for commercialization upon FDA approval. The proceeds will also allow Cerapedics to accelerate the development of next generation products and continu...
