Tangent Medical Closes $4.5 Million Series A Financing
Ann Arbor, MI – November 3, 2011 –Tangent Medical Technologies, Inc., a development stage medical device company, announced the completion of a $4.5 million Series A equity financing co-led by Arboretum Ventures (Ann Arbor, MI) and Flagship Ventures (Cambridge, MA). Also participating in the financing were Osage Ventures and several angel investors responsible for the initial seed funding for the company. In conjunction with the financing, Tim Petersen of Arboretum and Harry Wilcox of Flagship have joined Tangent’s board of directors. Jeff Williams announced as new CEO of Ann Arbor-based Tangent Medical TechnologiesJeff Williams, a successful entrepreneurial executive in the Ann Arbor region, is the new CEO of Ann Arbor-based Tangent Medical Technologies, Inc., the company announced Thursday. Read more at: http://annarbor.com Member Profile: Tangent Medical Technologies, Inc.Tangent’s patent-pending Novacath™ represents the next generation of peripheral IV devices. Unlike conventional IVs with add-on securement devices, Novacath™ is a complete peripheral IV system with built-in stabilization, by design. Ann Arbor looking to foster innovation in medical technologyTangent Medical Technologies was formed in July 2009. It has exclusive worldwide rights to Novacath, a patent-pending stabilized catheter system for peripheral intravenous (IV) fluid delivery that utilizes a simple built-in strain relief mechanism for improved stability. Read more at http://www.medicaldevicedaily.com or view the full PDF Michigan Pre-Seed Capital Fund Reports Investments Totaling $2.5 Million in 2010Tangent's patent-pending Novacath™ was created to address health and safety shortcomings of existing catheter stabilization products for peripheral intravenous (PIV) fluid/medication delivery systems. University of Michigan spinoff Tangent Medical Technologies developing new IV deviceThe poor performance of typical intravenous (IV) drug delivery systems prompted three University of Michigan researchers to pursue a new technological solution to the routine medical process. Their innovation became Tangent Medical Technologies Inc., one of two startup companies created by fellows from U-M’s Medical Innovation Center. New medical device company evolves from the U-M Medical Innovation CenterTangent Medical Technologies, Inc. geared to improving safety of IVs used for hospitalized patients, reached licensing agreement with U-M for latest product. |
Phone: (734) 527-4040| Fax: (734) 253-2043| Address: 8170 Jackson Road, Suite A, Ann Arbor, MI 48103
