Focal, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Hambrecht & Quist Funds invest $1.4 mil. in the privately held Cambridge, Massachusetts firm, increasing to $20 mil. the amount raised through the private placement of Series D preferred stock ('The Gray Sheet" Aug. 23, p. 16). Frazier Investment Securities and Invemed Associates handled the offering. To date, Focal has raised $30.2 mil. in three rounds of financing. Founded in 1991, the firm plans to begin clinical trials in 1994 of a biodegradable photopolymer gel to prevent post-surgical adhesions and also is developing the Pavent biodegradable "paving stent" for the prevention of restenosis.