RenaMed Biologics secures $40 million in private equity financing

By Lisa Kerner

Charlotte, N.C., Sept. 7 - RenaMed Biologics, Inc. completed a $40 million round of private equity financing to continue development of its Renal Bio-Replacement Therapy for Acute Renal Failure.

Proceeds will also be used to for the clinical-stage company's move to a new headquarters and manufacturing facility in Westborough, Mass.

TVM Capital and Lurie Investments co-led the financing, joined by MDS Capital, Merlin BioMed Group, Dow Employees' Pension Plan, TSC BioVenture Capital Corp., Apjohn Ventures Fund, BD Ventures (Becton Dickinson), Bio*One Capital (Singapore) and NorthCoast Technology Investors.

Gert Caspritz, general partner of TVM Capital, and Gerry Brunk, venture partner of MDS Capital, will join RenaMed's board of directors.

Issuer:	RenaMed Biologics, Inc.
Issue:	Private equity financing
Amount:	$40 million
Investors:	TVM Capital, Lurie Investments (co-lead), MDS Capital, Merlin BioMed Group, Dow Employees' Pension Plan, TSC BioVenture Capital Corp., Apjohn Ventures Fund, BD Ventures (Becton Dickinson), Bio*One Capital (Singapore) and NorthCoast Technology Investors
Announcement date:	Sept. 7

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