A Medical Device Daily
OptiMedica (Santa Clara, California), a global ophthalmic device company, has reported the receipt of $16 million in Series C financing. Participants in the round included the company's existing venture investors, Kleiner, Perkins, Caufield & Byers and Alloy Ventures, as well as new investment partner DAG Ventures.
The company said the new financing will be used towards the expansion of its commercial presence and the development of its new technology portfolio.
Founded in 2004, OptiMedica has the exclusive worldwide rights to and has commercialized the FDA-approved PASCAL (PAttern SCAn Laser) Photocoagulator system. Since its market introduction in 2006, PASCAL photocoagulation procedures have been performed on thousands of patients worldwide, the company said.
"This Series C financing is an important milestone for OptiMedica, as we continue our aggressive global expansion," said Mark Forchette, president/CEO.
Breathe Technologies (Fremont, California), a developer of devices to treat respiratory problems associated with chronic obstructive pulmonary disease, cystic fibrosis and influenza, reported closing on $15 million in a second round venture funding.
The investment was led by Kleiner Perkins Caufield & Byers with participation from existing venture investors, including Synergy Partners International, Delphi Ventures and Life Science Angels.
"Breathe Technologies is developing unique, transformational technologies for patients with emphysema, chronic bronchitis and other respiratory ailments," said KPCB Partner Beth Seidenberg, MD, who joined the company's board and the former chief medical officer of Amgen.
"More broadly, innovation in ventilator technology is crucial to help prepare our nation for potential pandemics such as influenza or other infectious agents. We believe Breathe Technologies has the potential to address these significant unmet needs."
The company is developing a family of ultra-lightweight, ambulatory respiratory ventilator systems for the hospital, homecare and pandemic markets. It says that the annual worldwide sales of conventional respiratory systems that its products could enhance or replace are estimated at more than $2 billion.
"Our goal is to improve the quality of life for people suffering from breathing disorders while reducing the high mortality rates associated with respiratory diseases," said Gregory Kapust, president/CEO of the company.
Breathe, was co-founded in January 2005 by Kapust, Lutz Freitag, MD, chief of one of a major pulmonary hospital in Hemer, Germany, and Spencer Volk, former CEO of several Fortune 500 companies.
In other financing news: Extrumed (Placentia, California) reported receiving a $29.5 million, one-loan debt financing from Golub Capital, through its GOLD facility, to support recapitalization of the company.
Extrumed, founded in 1990, provides precision tubing solutions to the medical industry. Its products are used in medical devices and technology serving various therapy areas including cardiology, vascular therapies, endosurgery, neurology, Ob/Gyn and urology.
ExtruMed has been owned by Inverness Graham Investments and Wedbush Capital Partners since September 2005.