By E. Janene Geiss
Philadelphia, April 25 - Alveolus said Tuesday that it raised $15 million in a series C financing round.
Ridgeback Capital Management LLC was the lead investor. Other investors include MDS Capital and others from the previous series A and B financing rounds.
The money raised will be used to continue development of the remaining Alveolus product portfolio.
"The conclusion of this round of financing will enable us to bring successfully to market the remainder of our immediate product portfolio as well as allow us to initiate product development on our newest innovative development initiatives," Eric Mangiardi, Alveolus president and chief executive officer, said in a company statement.
Alveolus is a Charlotte, N.C., developer of non-vascular interventional stent technology.
| Issuer: | Alveolus
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| Issue: | Series C financing
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| Amount: | $15 million
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| Investors: | Ridgeback Capital Management LLC (lead), MDS Capital, previous investors
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| Closing date: | April 25
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