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news.Cohera Medical, a provider of wound management products and surgical adhesives, has secured $16.1 million in a series B financing for the ongoing development of TissuGlu, a surgical adhesive for application in plastic surgery.
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The financing, which was led by Bradford Capital Partners, included participation from existing investors led by Kern Whelan Capital. The angel financing provides the company with sufficient capital to advance TissuGlu into clinical trials, which are expected to begin in early 2009.
Patrick Daly, CEO of Cohera Medical, said: “Our closing of this significant angel financing round in the current economic environment is a testament to the potential of our surgical adhesive technology.
“The financing gives us the capital to move forward with our clinical program for TissuGlu and affords us the opportunity to continue development of our other products.”