Transoma, maker of cardiovascular monitoring and diagnostic products, landed $5 million in fourth-round funding from United Therapeutics, Affinity Capital Management, Canaan Partners, Cross Creek Capital and Polaris Venture Partners, reports VentureWire. The money comes after the company withdrew its filing to go public earlier this year.
Based in St. Paul, Minn., the biotech company hoped to bring in $67.2 million on 4.2 million shares, but decided against going public due to unfavorable market conditions. Before it filed in November, it had raised $37 million in VC backing.
