Thursday, April 19, 2007

Coherex Medical Raises $8.5M in Funding

Coherex Medical Inc., a manufacturer of medical devices, has generated $8.525 million through the sale of Series A convertible preferred stock, the company reported Wednesday. Oxford Bioscience and vSpring Capital led the effort. As a result, Oxford general partner Jeff Barnes and vSpring Managing Director Dinesh Patel have joined Coherex's board of directors. Coherex said the funds be used for general expenses and for research and further development of its FlatStent Patent Foramen Ovale Closure System. Coherex is a privately held firm headquartered in Salt Lake City. More information »