By Lisa Kerner
Erie, Pa., Feb. 28 - Symphony Medical Inc., a Cleveland Clinic spin-off company, said it raised $6 million in equity funding.
Symphony will use the funding to increase its staff size, complete clinical trials and introduce a new product in Europe aimed at preventing atrial fibrillation after surgery.
The company's latest financing round included a new investor, Triathlon Medical Ventures, and existing investors, Morgehnthaler Ventures, Domain Associates and Guidant Compass Group.
"We were successful raising money this round because of our relationship with Cleveland Clinic, and especially CCF Innovations (the commercial arm of the Cleveland Clinic) and its relationship with key investors such as Triathlon Medical Ventures," Symphony chief executive officer and co-founder Mark Maciejewski said in a company news release.
"Our goal is to treat the deadly effects of atrial fibrillation with new innovative products, and CCF Innovations is helping us get these products to the market."
Located in Cleveland, Ohio, Symphony develops and commercializes of novel treatments of cardiovascular conduction abnormalities.
The Cleveland Clinic is a not-for-profit academic medical center that integrates clinical and hospital care with research and education.
| Issuer: | Symphony Medical Inc.
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| Issue: | Equity funding
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| Amount: | $6 million
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| Investors: | Triathlon Medical Ventures, Morgehnthaler Ventures, Domain Associates, Guidant Compass Group
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| Announcement date: | Feb. 28
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