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Hole-in-heart firm closes $16.5m series B

This article was originally published in Clinica

Executive Summary

Coherex Medical has strengthened its cash position with the addition of $16.5m it raised in a series B financing round. This brings the total amount of investment received by the company to $28m. This latest fundraising was led by existing shareholders vSpring Capital and Oxford Bioscience Partners, and included the participation of new investor Tullis Health Investors. The financing comes two months after Salt Lake City, Utah-based Coherex CE marked its Coherex FlatStent EF for closing patent foramen ovales (PFOs), a congenital heart defect – commonly known as "hole in the heart" – which affects around 20% of the worldwide population. The device is made of Nitinol and polyurethane foam and is the first device to be approved for closing a PFO from within the PFO tunnel.

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