Medlogics to pump $30M into coronary stents
Santa Rosa, Calif. medical developer Medlogics has announced a $30 million fourth-round of funding from UBS AG that will close in the first quarter of 2009. The money will go toward marketing its new bare-metal stent, a device that props open blocked arteries, as well as another product that delivers drugs to prevent future blockage, reports VentureWire.
The company says that this is likely to be its last round of venture funding, as it plans to file for an IPO in 2010. The six-year-old company previously raised $22 million from firms like Essex Woodlands Health Ventures and individual investors in the health industry. Medlogics launches its products in Europe, where they have more traction so far.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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