Author: Medvest Capital

Providence Medical Technology Secures $25 Million In Equity Financing

Proceeds to Bolster Commercial Expansion & Clinical Development of its DTRAX® Spinal System

Providence Medical Technology, Inc.   Sep 20, 2018, 06:00 ET
PLEASANTON, Calif.Sept. 20, 2018 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing surgical equipment and implants for cervical spine fusion surgery, today announced the closing of $25 million in new equity financing. Revelation Partners led the round with participation from the private equity investment team at BMO Global Asset Management (EMEA), MVM Life Science Partners, Medvest Capital, and Aphelion Capital. Inclusive of this new investment, Providence has raised a total of $53 million in equity financing since its 2008 inception.

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Joint Purification Systems, Inc. Announces $7.8 Million Series A Financing

Joint Purification Systems Inc. announced today that it has closed a $7.8 million Series A financing.


Joint Purification Systems Inc. (JPS), an early stage medical device company developing novel combination products to treat chronic peri-prosthetic joint infection (PJI), announced today that it has closed a $7.8 million Series A financing. The financing was led by Johnson & Johnson Innovation – JJDC, Inc. MedVest Fund II was also a new investor in the round. Proceeds will be used for preparation of the company’s first products in the X7 Spacer System for initiation of human clinical studies.

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Mercator MedSystems Receives $11M in Series D Equity Financing Led by Shenzhen Salubris Pharmaceuticals Co.

Capital will fuel continued research and clinical development of micro-infusion platform

EMERYVILLE, Calif.June 21, 2018 /PRNewswire/ — Mercator MedSystems, Inc., today announced it has received $11 million in Series D equity financing led by Shenzhen Salubris Pharmaceuticals Co. (Salubris), with participation from current Mercator investors and other undisclosed new investors. The new funding will further advance the clinical development of Mercator’s proprietary micro-infusion catheter systems and accelerate the company’s vision of improving outcomes in patients around the world with cardiovascular and pulmonary disease.

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Mercator Medsystems leaps forward with Bullfrog into LIMBO-ATX trial

BioWorld MedTech, November 1, 2017

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Providence Medical Technology Secures New Financing of $10.5 Million From Bridge Bank

Proceeds to further commercialize and expand distribution of cervical fusion technology

WALNUT CREEK, Calif., May 10, 2017 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today announced the closing of a $10.5 million debt agreement with Bridge Bank.

“We are pleased that we have partnered with Bridge Bank to bolster our balance sheet with this debt facility,” said Greg Curhan, Chief Financial Officer of Providence. “This financing, coupled with our recently completed equity financing, puts us in a great position to continue to expand our distribution both across the United States as well as in international markets to deliver innovative spinal technology to help patients enjoy pain-free lives.”

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Providence Medical Technology Announces Issuance of Four Additional U.S. Patents

Continues Expansion of Cervical Fusion IP Portfolio

WALNUT CREEK, Calif., April 27, 2017 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today announced the U.S. Patent Office’s issuance of four additional patents, Nos. 9,622,873; 9,622,791; 9,622,874; and 9,629,665, covering various aspects of its proprietary DTRAX® and CAVUX® posterior cervical spinal fixation technologies.

These patents cover, among other things, posterior placement of an implant in a facet joint using a chisel and guide tube; placement of an implant in a facet joint using a forked guide tube; placement of implants of various configurations in a cervical facet joint; and distraction of a facet joint after posterior placement of an implant in the facet joint.

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Mercator MedSystems Announces First Enrollment in the TANGO Trial for BTK Vascular Disease

First U.S. Trial to Assess Delivery of a -Limus Agent to Prevent BTK Restenosis

EMERYVILLE, Calif., April 26, 2017 /PRNewswire-USNewswire/ — Mercator MedSystems, Inc., a medical technology company, announced today the first patient enrollment into the TANGO (Temsirolimus Adventitial Delivery to Improve Angiographic Outcomes Below the Knee) clinical trial. TANGO will study the effects of using Mercator’s proprietary Bullfrog® Micro-Infusion Device for the adventitial delivery of the drug TORISEL® (temsirolimus) after revascularization of lesions below the knee (BTK) in patients with critical limb ischemia (CLI).

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Providence Medical Technology Closes Series C Financing

Proceeds to Fund Expansion of U.S. Commercialization

LAFAYETTE, Calif. — (BUSINESS WIRE) — Providence Medical Technology, Inc. today announced that it has closed a $6.8 million Series C round of financing. Stanmore Medical Investments led the round through its MedVest Fund One, and was joined by Aphelion Capital and RCT Ventures.

In conjunction with the financing, David Cash of Stanmore and Ned Scheetz of Aphelion have joined Providence’s Board of Directors.

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Providence Medical Technology Announces the Publication of a Technique Paper

Walnut Creek, CA (December 13, 2016) Providence Medical Technology, Inc., an innovator in tissue-sparing cervical fusion technology, today announced the publication of Novel instrumentation and technique for tissue sparing posterior cervical fusion in the Journal of Clinical Neuroscience by Bruce McCormack, MD and Raman Dhawan, MD.

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Mercator Bullfrog Device Being Used in New Proteon Therapeutics Study

Proteon Therapeutics Announces First Patient Dosed in Phase 1 Study Evaluating Vonapanitase for the Treatment of Peripheral Artery Disease Below the Knee

WALTHAM, Mass. – November 10, 2016 – Proteon Therapeutics, Inc. (Nasdaq: PRTO), a company developing novel, first-in-class therapeutics to address the medical needs of patients with kidney and vascular diseases, today announced the first patient was dosed in a Phase 1 clinical study evaluating a single administration of investigational drug vonapanitase delivered immediately following angioplasty to patients with peripheral artery disease (PAD).

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