Medtronic puts money on heart valve firm:
This article was originally published in Clinica
Minimally-invasive heart valve replacement technologies developer Arbor Surgical Technologies has closed a $20m series C financing round led by Medtronic. This brings the total amount of investment received by the privately held, Irvine California firm to $54m. The proceeds will be used to fund US clinical trials of Arbor's lead products, the Trilogy aortic valve system and the sutureless TRE implantation tool. The venture capital from Medtronic is part of a licensing deal, in which Minneapolis, Minnesota company acquires manufacturing, marketing and distribution rights to Arbor's trilobal perdicardial valves. Arbor will retain exclusive rights to the Trilogy and TRE technologies.
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