By Jennifer Chiou
New York, Aug. 22 - Arbor Surgical Technologies, Inc. said it raised $20 million in series B financing.
Baird Venture Partners led investors, which also included Affinity Capital Management, Fisk Ventures, Delphi Ventures, Alloy Ventures, Johnson & Johnson Development Corp., Three Arch Partners, chairman and co-founder Thomas J. Fogarty, Sapient Capital, Kaiser Venture Capital, David Chonette of Versant Ventures and Sage Venture Partners.
"This financing milestone enhances an already strong team of investors and personnel at Arbor. The rapid and enthusiastic subscription in this round speaks to the momentum we have garnered by the achievement of significant milestones over the past several months," said Steve Bacich, Arbor's president and chief executive officer, in a news release.
"Our mission is to develop a better heart valve product utilizing our simplified and proprietary implantation method."
To date, the company has raised $34 million.
Arbor also said Pete Shagory of Baird Venture Partners has joined its board.
Arbor, which is a medical device company focused on the heart valve replacement market, has headquarters in Irvine, Calif.
| Issuer: | Arbor Surgical Technologies, Inc.
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| Issue: | Preferred stock
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| Amount: | $20 million
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| Round: | Series B
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| Investors: | Baird Venture Partners (lead), Affinity Capital Management, Fisk Ventures, Delphi Ventures, Alloy Ventures, Johnson & Johnson Development Corp., Three Arch Partners, Thomas J. Fogarty, Sapient Capital, Kaiser Venture Capital, David Chonette of Versant Ventures, Sage Venture Partners
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| Announcement date: | Aug. 22
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