By Kimberly N. Alleyne
Stroudsburg, Pa., Aug. 25 - KFx Medical Corp., a developer of minimally invasive percutaneous repair systems for rotator cuff repair, has closed its series A financing.
Investors in the oversubscribed $6.2 million series A round included lead investor Charter Life Sciences LP, Arboretum Ventures, Montreux Equity Partners and MB Venture Partners.
"We are very pleased to have such a prominent group of industry-knowledgeable investors validate our strategy. We view their significant financial commitment as a reflection of the strength of our current set of opportunities," stated KFx president and chief executive officer Tate Scott, in a news release.
"This financing enables us to radically accelerate preparations for KFx Medical Corp.'s
entry into the U.S. market that was created by the well-deserved success of Opus Medical and ArthroCare."
Joining Scott and Vivant Medical chief executive officer Rod Young on the KFx board of directors are Barr Dolan of Charter, Tim Petersen of Arboretum and John Savarese of Montreux. Ted Davis of MB Venture Partners will serve as a board observer.
KFx is headquartered in Carlsbad, Calif. The privately held company was founded in 2003 to develop clinically relevant solutions to rotator cuff repair.
| Issuer: | KFx Medical Corp.
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| Issue: | Venture capital
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| Round: | A
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| Amount: | $6.2 million
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| Investors: | Charter Life Sciences LP (lead), Arboretum Ventures, Montreux Equity Partners and MB Ventures Partners
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| Announcement date: | Aug. 25
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