KFx Medical Corporation
Closes $10 Million
Series B Financing
SAN DIEGO,
CA – AUGUST 9, 2007
KFx Medical Corporation, a developer of
minimally invasive percutaneous repair systems for rotator
cuff repair, has closed a Series B financing. Investors in
the $10M Series B round included lead investor Alloy Ventures
and returning investors Charter Life Sciences L.P, Arboretum
Ventures, Montreux Equity Partners, and MB Venture Partners.
"The participation of Alloy Ventures and its partner Craig Taylor, along with the return of our previous investors is very rewarding," stated KFx president and CEO Tate Scott. "This financing enables us to further our goals as we begin the distribution of the most secure rotator cuff repair available."
Joining the KFx Board of directors is Craig
C. Taylor, Managing Partner of Alloy. He joins Scott and former
Vivant Medical CEO Rod Young, Barr Dolan of Charter, Tim Petersen
of Arboretum and Dr. John Savarese of Montreux. MB Venture
Partners Stephen Snowdy is a board observer.
Over four million people seek medical advice
for shoulder pain every year; torn rotator cuffs alone account
for more than 500,000 surgeries annually and have traditionally
required many weeks of rehabilitation. Patients typically experience
less pain and regain full range of motion more quickly with
traditional minimally invasive techniques however these require
surgeons to have advanced videoscopic skills. In contrast,
KFx provides a simple system for surgeons which ensures a more
anatomical repair and yields a better clinical outcome for
the patient.
"We have followed the progress of KFx in development and in the clinic and are pleased to assist in expanding the use of this advanced system," Taylor stated.
About KFx Medical Corporation
Headquartered in Carlsbad, Calif., KFx Medical Corporation
was founded in 2003 to develop clinically relevant solutions
to rotator cuff repair. The company is privately held.
For more information: www.KFxmed.com
CONTACT:
Tate Scott
KFx Medical Corporation
5145 Avenida Encinas, Ste C
Carlsbad, CA 92008
619 270-8474 |