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Financings in Brief: LocalMed

This article was originally published in The Gray Sheet

Executive Summary

LocalMed: Raises approximately $16 mil. in a private placement through agent UBS Securities. The financing was led by Rothschild's International Biotechnology Trust, a new investor in LocalMed. Additional new investments were made by Hambrecht & Quist, Johnson & Johnson Development Corporation, and T. Rowe Price, LocalMed says. The company, which currently markets the InfusaSleeve local drug delivery catheter based on its "over-the-balloon" technology, is developing several interventional cardiology products based on the same technology, including the PerfusaSleeve product for converting standard angioplasty balloons into perfusion balloons and the StentaSleeve stent delivery product ("The Gray Sheet" Oct. 30, 1995, I&W-7)...
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