Tangent Medical Technologies, Inc., an Ann Arbor, MI-based development stage medical device company, closed a $4.5m Series A equity funding.
The round was co-led by Arboretum Ventures and Flagship Ventures, with participation from Osage Ventures and existing angel investors.
The company intends to use the capital for regulatory filings and commercial launch of its lead product, the NovaCath™ Closed IV Catheter System.
NovaCath is a novel peripheral intravenous (PIV) catheter system originally conceived at the University of Michigan by Tangent’s technical founders, Adrienne Harris, Elyse Kemmerer and Steven White, and designed to improve healthcare worker safety and patient comfort.
In conjunction with the financing, Tim Petersen of Arboretum and Harry Wilcox of Flagship have joined Tangent’s board of directors, which is led by Chairman & CEO Jeff Williams.
FinSMEs
03/11/2011