Cohera Medical, a Pittsburgh, PA-based developer of absorbable surgical adhesives and sealants, has raised $25m in Series C financing.
A total of $16.5m was raised through existing investors and over $9m through new investors. Kern Whelan Capital is one of the backers.
The company intends to use the funding to expand the adoption in Germany and additional European markets for its lead product, TissuGlu® Surgical Adhesive, as well as to support the clinical trials for TissuGlu in the United States.
TissuGlu is an internal surgical adhesive for large flap surgeries, such as abdominoplasty (tummy tuck), that helps reduce fluid accumulation and the need for postsurgical drains.
Led by President and CEO Patrick Daly, Cohera Medical is also developing a unique and proprietary bowel sealant, and a strong adhesive for mesh fixation.
FinSMEs
19/12/2011