By Jennifer Chiou
New York, Aug. 17 - NovoStent Corp. said it closed on second round of financing, raising an additional $3.1 million for a total of $12.75 million.
Sanderling Ventures led investors that included Montreux Equity Partners, Forward Ventures, Mitsui & Co. Venture Partners, The Band of Angels Fund and Peninsula Equity Partners.
In May, the company raised $9.65 million.
"This additional capital will allow us to develop more robust human data as we determine the company's strategic direction," president and founder Michael Hogendijk said in a news release.
"The capital available for follow-on financing from this impressive syndicate allows us to consider the many applications of our platform technology."
The company also said Timothy Mills of Sanderling Ventures and Howard Palefsky of Montreux have joined its board.
Based in Mountain View, Calif., the company is a medical device company that has developed an "anchored" helical stent technology for vascular therapies.
| Issuer: | NovoStent Corp.
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| Issue: | Stock
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| Amount: | $3.1 million
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| Round: | Second
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| Investors: | Sanderling Ventures (lead), Montreux Equity Partners, Forward Ventures, Mitsui & Co. Venture Partners, The Band of Angels Fund, Peninsula Equity Partners
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| Announcement date: | Aug. 17
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