Coherex clinches $8.5m to develop PFO (patent foramen ovale) closure device:
This article was originally published in Clinica
Coherex Medical has closed a $8.5m series A financing round led by Oxford Bioscience and vSpring Capital. Salt Lake City, Utah-based Coherex intends to use the funds to drive development of its FlatStent patent foramen ovale (PFO) closure system and for general corporate purposes. A PFO is an abnormal opening between the upper chambers of the heart that could lead to stroke or cause migraines among those that have this defect. PFO-related stroke represents a worldwide market of around $2bn, while the global market for PFO closure to treat migraine patients is estimated to be over $15bn, says Coherex.
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