Cohera Medical secures Series D financing to grow TissuGlu markets

August 1, 2012

Cohera Medical, a developer of absorbable surgical adhesives and sealants, has secured more than $8.4 million toward Series D financing through private investors, which the company reportedly will use to expand adoption of its TissuGlu Surgical Adhesive product in Germany and additional European markets.

Cohera Medical, a developer of absorbable surgical adhesives and sealants, has secured more than $8.4 million toward Series D financing through private investors, which the company reportedly will use to expand adoption of its TissuGlu Surgical Adhesive product in Germany and additional European markets.

The funds will also be used to support the clinical trials for TissuGlu in the United States, as well as the development and advancement of pipeline products such as FlexSil Surgical Sealant, the company states.

“Cohera Medical has done a remarkable job of attracting world-class plastic and reconstructive surgeons in Germany who are successfully using TissuGlu,” said John C. Kern, founder and general partner of Kern Whelan Capital and manager of Kern Medical III. “We are excited that Cohera is also pursuing the development of FlexSil. Both first-of-its-kind technologies represent very attractive investment opportunities.”

Patrick Daly, president and CEO of Cohera Medical, said, “The convertible note portion of the Series D round is a reflection of our investor’s confidence that we continue to meet our key milestones, including the start of our clinical trial for TissuGlu in the U.S. I believe that Cohera Medical is at the forefront of bringing some of the most exciting surgical products to market that have the potential to change the way patients recover from so many types of large flap procedures - from abdominoplasties and mastectomies to lymph node dissection in cancer patients, bowel procedures and reconstruction of sternal defect in open-heart surgery.”

Cohera Medical recently received CE Marking approval for TissuGlu and began selling product to hospitals and surgeons in Germany in September 2011. The company reportedly plans to expand the commercial availability of TissuGlu to additional European markets in 2012.