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新闻
Carbylan Announces $20 Million Series B Financing
Palo Alto, CA - Nov 26, 2007 - Carbylan BioSurgery, Inc., a medical device
company focused on development of bioresponsive medical products for
osteoarthritis and chronic rhinosinusitis, today announced the closing
of a $20 million Series B preferred stock financing. The financing was
led by Vivo Ventures and included existing investors Alta Partners and
InterWest Partners. In connection with the financing, Albert Cha, MD
PhD, Managing Partner at Vivo Ventures, will join Carbylan's board of
directors. Proceeds from this round of financing will be used to advance
Carbylan's lead product candidates based on chemically engineered
polymers of hyaluronic acid. Carbylan's proprietary technology allows
delivery of biomaterial-based medical devices as injectable liquids that
self-polymerize, covalently bind to tissues at the target delivery site
and, when combined with appropriate therapeutic agents, uniquely enable
controlled drug release. The Company currently is conducting
post-approval clinical studies for its first product AdvaCoat&trade
Sinus Dressing, and a second generation device/drug combination product
AdvaCoat&trade Rx for chronic rhinosinusitis will enter the clinic early
next year. The company's second product, ActaVisc&trade -
viscosupplement for intra-articular injection - will also enter the
clinic early next year as a treatment for osteoarthritis. "I am pleased
to welcome Vivo Ventures and Albert Cha to our team," stated George
Daniloff, MD, PhD, Carbylan's CEO and President. "This financing
provides us sufficient capital to demonstrate the unique benefits of the
Carbylan technology in significant clinical trials in two large
markets." "A strong technology platform coupled with the strength and
experience of Carbylan's management team make the company an exciting
investment," said Dr. Cha, Managing Partner at Vivo Ventures. "We
believe the Carbylan product portfolio is uniquely suited to deliver
tremendous value to patients suffering from osteoarthritis or
rhinosinusitis."
About Carbylan Biosurgery
Carbylan was founded in 2005 to develop and market medical devices and
device/drug combination products based on chemically engineered polymers
of hyaluronic acid, a well known polysaccharide widely present in the
human body. Its initial market focus is therapeutic medical devices for
rhinosinusitis and osteoarthritis. Carbylan's proprietary technology
enables delivery of biomaterial-based medical devices as injectable
liquids that self-polymerize inside the body to form therapeutic
implants that covalently bind to tissues at the target delivery site.
Physical properties and resorption rates of the implant can be tailored
to a clinical indication by adjusting the degree of chemical
modification of the hyaluronic acid. Carbylan biopolymers are
biocompatible, non-immunogenic and, when combined with pharmaceutical
agents, uniquely enable controlled drug release.
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