By Lisa Kerner
Charlotte, N.C., Oct. 3 - Novare Surgical Systems Inc. closed of a $16 million private placement of its series D preferred stock.
Point Judith Capital and Tudor Investment Corp. led the financing round, joined by existing investors Thomas J. Fogarty, Channel Medical Partners, Canaan Partners, Asset Management and new investor Deerfield Partners.
Proceeds will be used to commercialize the company's RealHand high dexterity instruments for minimally invasive surgery such as gastric bypass, colectomy and hysterectomy.
Gina Raimondo, a partner at Point Judith Capital, has joined Novare's board of directors.
Novare is a medical device company located in Cupertino, Calif.
| Issuer: | Novare Surgical Systems Inc.
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| Issue: | Series D preferred stock
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| Amount: | $16 million
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| Investors: | Point Judith Capital, Tudor Investment Corp. (co-led), Thomas J. Fogarty, Channel Medical Partners, Canaan Partners, Asset Management, Deerfield Partners
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| Announcement date: | Oct. 3
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