Institutional investors have added $1.4 million to Focal Inc.'s latestprivate placement, swelling to $20 million the amount the companyhas raised in this financing.
Focal announced Thursday that H&Q Healthcare Investors and H&QLife Sciences Investors have invested $1.4 million in the company'sSeries D Preferred Stock; Focal had already garnered $18.6 million inthis round of financing as of Aug. 12.
Frazier Investment Securities and Invemed Associates were theplacement agents for the offering, which is now complete.
Original investors participating in this round included the MayfieldFund, Domain Associates, Kleiner Perkins Caufield & Byers, DelphiBioventures and Partech. Partaking for the first time were FrazierHealthcare Investments, Invemed, Singapore BioInnovations, VulcanVentures and General Electric Pension Fund.
Focal of Cambridge, Mass., has now raised $30.2 million in threerounds of financing since its inception in June 1991.
The company was founded to commercialize what it calls focalinterventional therapeutics, the site-specific administration of cell-specific therapy through minimally invasive procedures. It uses focalinterventional devices to administer a biodebradable polymer as astructural or protective barrier and drug depot to a specific diseasedsite.
Focal's initial products are designed to prevent post-surgicaladhesions and post-angioplasty restenosis and abrupt reclosure.
-- Jennifer Van Brunt Senior Editor
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