Portfolio News

Asterand Completes Acquisition of BioSeek
Asterand plc (LSE: ATD), a leading provider of human tissue and human tissue-based services to pharmaceutical and biotechnology companies engaged in drug discovery research, announced it has completed its acquisition of BioSeek, Inc., a pioneer in the application of predictive human biology to drug discovery through its unique human primary cell based disease models.

Accuri Cytometers Announces Senior Management Transition
Accuri Cytometers Inc., a life science company marketing innovative bench-top flow cytometer systems, announced that co-founder and CEO Jennifer Baird has resigned and will be replaced by Jeffrey S. Williams, most recently President and CEO of HandyLab Inc., an Ann Arbor-based molecular diagnostics company acquired by Becton Dickinson for $275 million in November 2009.

Becton, Dickinson and Company Completes $275 million Acquisition of HandyLab
BD (Becton, Dickinson and Company) (NYSE:BDX) announced the completion of its acquisition of HandyLab, Inc., an Ann Arbor, Michigan-based company that develops and manufactures molecular diagnostic assays and automation platforms.

Esperion Therapeutics Initiates Phase I Clinical Study for ETC-1002
Esperion Therapeutics, a privately held biotechnology company working to discover, develop and commercialize treatments for cardiovascular and metabolic diseases, announced that the company has initiated a Phase I clinical study for ETC-1002, the company's novel small molecule compound designed to beneficially regulate the levels of plasma lipids and lipoproteins.

Asterand: A Medical Pioneer in Detroit
Asterand wants to turn the city of Detroit into a world leader in medical and pharmaceutical research.  Located inside Detroit's TechTown business incubator, Asterand is a human-tissue bank that collaborates with pharmaceutical companies on drug discovery and development.  Asterand went public on the London Stock Exchange in 2006, after it merged with U.K.-based Pharmagene. 

Telemedicine Delivers Healthy Medical and Financial Benefits to ICUs

Ministry Health Care's Saint Clare's Hospital in Weston, WI first started looking into virtual ICU to access a larger number of intensivists that the hospital could recruit on its own.  With only one intensivist on staff, Saint Clare's turned to St. Louis based Advanced ICU Care to get the 24/7 support it needed.

Uptake Medical Presents Data from Phase II Clinical Trial for Patients with Heterogeneous Emphysema
Uptake Medical Corp., a developer of medical technologies for the non-surgical treatment of lung diseases including emphysema, announced that data will be presented from their most recent clinical trial for emphysema at the 2009 ERS meeting in Vienna, Austria. The phase II clinical trial evaluates the Company's proprietary minimally invasive Bronchoscopic Thermal Vapor Ablation™ (BTVA™) technology for the treatment of patients suffering from heterogeneous emphysema.

KFx Medical Awarded Key Patent for Knotless Tissue Fixation
KFx Medical, developing clinically relevant solutions to rotator cuff repair, announced that it was awarded a US Patent No. 7,585,311 by the United States Patent and Trademark office. The key patent covers a broad range of methods used to perform surgical knotless tissue fixation, including the double row tissue repair technique used to restore the rotator cuff to its correct anatomic position.

CardioMEMS Raises Additional Capital to Advance its CHAMPION Clinical Trial
CardioMEMS, Inc., a medical technology company that has developed and is commercializing proprietary wireless sensing and communication technology for the human body, announced the completion of a $22.1 million financing. The financing provides the company with additional capital to fund the company's CHAMPION clinical trial.

Accuri Cytometers Completes $4 Million Series D Financing
Accuri Cytometers, Inc., a life science company developing and marketing revolutionary high performance cell analysis systems, announced the completion of a $4 Million Series D financing.  The financing includes current investors Fidelity Biosciences, Flagship Ventures, Baird Venture Partners and Arboretum Ventures, as well as the InvestMichigan! Program co-managed by Credit Suisse.

HandyLab Announces Exclusive Collaboration with Becton, Dickinson and Company
BD Diagnostics, a segment of BD and HandyLab, Inc. announced that they have entered into an exclusive agreement for BD to commercialize its molecular assays on a new BD MAX system in development using HandyLab's recently launched Jaguar instrument. Released in November 2008, HandyLab's Jaguar system is the first fully integrated bench-top molecular diagnostic system to provide hands-off operation.

Mary Jo Gorman named by Modern Healthcare as one of its Top 25 Women in Healthcare
Modern Healthcare has named Mary Jo Gorman, MD, Chief Executive Officer of Advanced ICU Care to its list of the "Top 25 Women in Healthcare". The biennial list honors female healthcare executives who are making a positive difference in healthcare. Advanced ICU Care is a medical service company that provides high-quality remote critical care to patients in the intensive care units (ICU) of community hospitals.

CerviLenz Inc. Raises $4 Million in Venture Funding
CerviLenz Inc., a manufacturer and distributor of a disposable device used to predict the risk of preterm birth in pregnant women, announced that is has raised $4 million in the company's initial round of venture funding. Ann Arbor, MI based Arboretum Venture led the round with Louisville, KY based Chrysalis Ventures co-investing in the financing.

VasoNova Exits Stealth After Catheter Clearances
VasoNova Inc. recently secured two more Food and Drug Administration device clearances and will launch its vascular navigation system this summer. VasoNova has been developing the Vascular Positioning System which uses Doppler ultrasound and electrocardiography technology for the precise placement of peripherally inserted central catheters or PICCs.

HandyLab Grants Qiagen License to Sample Technology
HandyLab Inc, dedicated to the development, manufacture and sale of novel molecular diagnostic products, announced that QIAGEN N.V. has licensed HandyLab extraction technology for use at part of QIAGEN's sample technology solution designed for use in combination with QIAGEN's HPV assays on its QIAensemble screening and QIAsymphony random access platforms.

KFx Medical Develops PASTAFx System
KFx Medical Corporation, developing clinically relevant solutions to rotator cuff repair, announced the PASTAFx Anchor System used in the repair of partial rotator cuff tears, including Partial Articular Sided Tendon Avulsion (PASTA) tears. PASTAFx was introduced at the American Association of Orthopedic Surgeons (AAOS) in Las Vegas on February 25 - 27, 2009.

Aptus Endosystems Completes Enrollment in STAPLE-2 Pivotal Study
Aptus Endosystems Inc., a medical device company developing advanced technology for the endovascular treatment of aortic aneurysms, announced it has completed primary enrollment in the STAPLE-2 Pivotal Study of the Aptus Endovascular AAA Repair System. This study is the company's US pivotal clinical study to demonstrate the safety and effectiveness of the Aptus Endovascular AAA Repair System.

Johnson & Johnson Acquires HealthMedia, Inc.
As an initial step in the creation of a wellness and prevention business platform, Johnson & Johnson announced it has acquired HealthMedia Inc., a privately held company that creates web-based behavior change interventions. HealthMedia, located in Ann Arbor, Michigan, combines advanced technology and behavioral science to effectively emulate a health coach via the web.

Uptake Medical Presents Data From Safety & Feasibility Clinical Trial
Uptake Medical Corp., a developer of medical technologies for the minimally-invasive treatment of lung diseases including emphysema, announced it will present data from their first safety & feasibility clinical trial at the 2008 CHEST meeting in Philadelphia. The trial was a phase I study for the company's proprietary minimally-invasive Bronchoscopic Thermal Vapor Ablation (BTVA) treatment for patients suffering from heterogeneous emphysema with upper lobe predominance.

BAROnova Secures Investment From Allergan, Inc.
BAROnova, Inc. announced the closing of its Series B financing of $7.5M, led by a strategic investment from Allergan, Inc. Series A investors Arboretum Ventures, Highland Capital Partners and ONSET Ventures also participated in this round of financing. BAROnova will use the proceeds to continue the clinical development of their non-surgical, non-pharmacologic TransPyloric Shuttle (TPS) weight-loss technology, and to fund ongoing operations.

Advanced ICU Care Named Among Top 100 Best Places to Work
Advanced ICU Care, a healthcare services company employing telemedicine technology to enable remote care for hospital ICU patients, was named one of the top 100 best places to work in healthcare by Modern Healthcare. This special supplement recognizes workplaces in healthcare that enable employees to perform at their optimum level to provide patients and customers with the best possible care and services.

HandyLab Inc. Announces the Release of Jaguar Automated PCR System
HandyLab Inc., a developer of novel molecular diagnostic testing products, announces the release of the Jaguar Automated PCR System. This Real-Time PCR System integrates sample preparation, nucleic acid extraction, and microfluidic amplification and detection into a single instrument. Two to twenty-four tests can be run in 45 to 90 minutes from a raw patient sample.

HandyLab Inc. Closes on $19.5M
HandyLab Inc., dedicated to the development, manufacture and sale of novel molecular diagnostic products, announced it has closed on a $19.5M round of venture capital. Two new venture capital firms joined this round, Chicago-based Lurie Investments Inc. and Midland-based Dow Ventures. These new investors joined previous investors, Pfizer Strategic Investments Group, Ardesta LLC, EDF Ventures and Arboretum Ventures LLC, who also participated in the round of funding. 

Accuri Cytometers Completes $13M Series C
Accuri Cytometers Inc., a life science company developing revolutionary bench-top flow cytometer systems, announced the completion of a $13M Series C financing led by Fidelity Biosciences and Flagship Ventures. Current investors, Baird Venture Partners and Arboretum Ventures, also participated in the financing. Bahaa Fam, Venture Partner, Fidelity Biosciences and Harry Wilcox, Partner, Flagship Ventures, will join Accuri's Board of Directors.

Advanced ICU Care Raises $5M in Funding
Advanced ICU Care, a healthcare service company employing telemedicine technology to enable remote care for hospital ICU patients, announced the closing of a $5M Series B financing led by Versant Ventures. Other participants include existing investors Catalyst Capital Management, Arboretum Ventures and individual investors. Advanced ICU Care also announced that Barbara Lubash, managing director of Versant Ventures, has joined the company's Board of Directors.

Advanced ICU Care News - Specialists Staff Small Town ICUs
Advanced ICU Care contracts with intensive care units, such as the one at St. Mary's Health Center in Jefferson City, MO., to provide intensivists services remotely through monitors, television screens and other technologies.  Since implementing AICU Care's program, St. Mary's has seen cardiac arrests in the ICU fall 67 percent, and the number of patients leaving the hospital alive improve by 24 percent. 

Uptake Medical Announces Completion of Pilot Safety and Feasibility Clinical Trial
Uptake Medical Corp, a developer of medical technologies for the treatment of lung diseases including emphysema, announced it has successfully completed patient enrollment in a phase I safety and feasibility clinical trial conducted at two centers in Australia. 

Esperion Therapeutics Completes $22.75M Series A
Esperion Therapeutics, Inc., a biopharmaceutical company focused on the discovery and development of compounds to treat cardiovascular and metabolic disease, announced it has been launched as a privately held, independent enterprise. The financing was co-led by Aisling Capital, Alta Partners and Domain Associates and also included participation by Arboretum Ventures.

Accord Biomaterials Closes $1M Series A
Accord Biomaterials, a developer of nitric oxide medical device coatings, announced the closing of a $1M Series A financing led by Arboretum Ventures.  Sigvion Capital and the University of Michigan's Wolverine Venture Fund joined Arboretum to fund Accord whose core technology was developed at the University of Michigan and MC3 Corporation.

Online Health Counseling Grows HealthMedia
HealthMedia, a global leader in online delivery of behavior change interventions, saw health care license revenue growth jump 100 percent in the third quarter of 2007. HealthMedia's technology helps patients with everything from wellness regimens to taking their medication.

CardioMEMS Closes Series E Financing and Appoints New CFO
CardioMEMS Inc., a developer of wireless pressure sensors for the management of cardiovascular disease, announced the closing of its $33 million Series E Preferred Stock financing.  The Board of Directors of CardioMEMS also announced that it has appointed Daniel H. Bauer as Chief Financial Officer of the Company.

CardioMEMS Announces Start of CHAMPION Pivotal Study
CardioMEMS Inc., a developer of wireless pressure sensors for the management of cardiovascular disease, announced that its wireless pressure sensor for heart failure (HF) monitoring was successfully implanted in two patients at Saint Thomas Hospital in Nashville, Tennessee.  These patient implants mark the initiation of the CHAMPION pivotal clinical study.

Mirabilis Medica Closes Series A Extension
Mirabilis Medica, a privately-held medical device company announced the closing of a $10.5 million extension to its series A financing which was originally led by Charter Life Sciences and vSpring Capital last year. The series A extension was led by Arboretum Ventures, and included Split Rock Partners, Dow Venture Capital and an individual investor.

KFx Medical Corporation Closes Series B Financing
KFx Medical Corporation, a developer of minimally invasive percutaneous repair systems for rotator cuff repair, has closed a Series B financing. Investors in the $10M Series B round include lead investor Alloy Ventures, and returning investors Charter Life Sciences L.P., Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.

Accuri Cytometers Adds Two Executives to its Board of Directors
Accuri Cytometers, Inc., a life science company developing bench-top flow cytometer systems, announced the appointment of Daniel J. Calvo and George W. Dunbar to its Board of Directors. Daniel Calvo is currently President and CEO of Assay Designs, and George Dunbar is currently President, CEO and a Director of Aastrom Biosciences.

HealthMedia will Offer Online Programs for Free
HealthMedia Inc., a global leader in online delivery of behavior change interventions, will offer seven of its programs for free to Washtenaw County, Michigan residents for the next 12 months. Residents will be able to access HealthMedia's web-based programs that help people manage health behavior in areas such as smoking, weight loss or diabetes management.

Accuri Cytometers Announces Completion of Series B Financing
Accuri Cytometers Inc., a medical equipment company developing bench-top flow cytometer systems, announced the completion of a $5 million Series B financing led by Baird Venture Partners (BVP). Arboretum Ventures co-led the financing, with both firms being new investors in Accuri.

CardioMEMS Announces FDA Clearance
CardioMEMS Inc., a developer of wireless pressure sensors for the management of cardiovascular disease, announced March 28, 2007 Food and Drug Administration (FDA) clearance of the EndoSure AAA Wireless Pressure Measurement System for measuring intrasac pressure during thoracic aortic aneurysm repair.

HealthMedia’s Health Risk Assessment Now Available
HealthMedia, Inc., the global leader in scalable behavior change interventions, announced that the nation’s leading integrated health plan Kaiser Permanente, has selected HealthMedia Succeed as its program-wide Health Risk Assessment (HRA) solution across all national regions.

Asterand Offers Researchers Internet Access to RNA
Asterand, a leading provider of human tissue and related services, announced that it is offering research scientists access to human RNA samples via the internet to speed drug discovery. RNA analysis is an effective way of differentiating between the diseased state and normal state of tissues.

Inogen Secures $22 Million in Financing
Inogen, a leading developer of long-term oxygen therapy technologies, announced February 15, 2007 that it has secured $22 million in funding from first time investors Arboretum Ventures and Novo A/S, who joined existing investors Versant Ventures, Accuitive Medical Partners and Avalon Investments.

CardioMEMS Announces First Patient Implant of Wireless Pressure Sensor
CardioMEMS Inc., a developer of wireless pressure sensors for the management of cardiovascular disease, announced that its wireless pressure sensor for heart failure monitoring was successfully implanted in two patients at Okalahoma Heart Hospital under the direction of Philip Adamson, MD, Director of the Heart Failure Institute.

HealthMedia Acquires MySelfHelp.com
HealthMedia, a global leader in online delivery of behavior change interventions, announced that it has acquired MySelfHelp.com. MySelfHelp.com offers behavioral health programs for treating depression and insomnia. The acquisition will enhance the product line of HealthMedia, allowing it to provide a more comprehensive set of programs to its customers.

NeoGuide Systems Closes Series C Financing
NeoGuide Systems announced that it raised $25 million in its Series C Round. NeoGuide has developed a computer-assisted colonoscopy system designed to enhance physician control, making the procedure faster and less painful for the patient. The company received FDA clearance for the device earlier this year and expects to begin commercialization in 2007.

NeoGuide Names New President and Chief Executive Officer
NeoGuide Systems Inc., a developer of technology to prevent and treat colorectal cancer, named Austin Noll its new President and Chief Executive Officer. Noll has nearly twenty years of experience in the medical device industry, most recently as Senior Vice President of Marketing and Business Development for Medtronic Neurologic Technologies.

CardioMEMS Closes Series D Financing, Appoints New CFO
CardioMEMS Inc., a developer of wireless pressure sensors for the management of cardiovascular disease, announced that it raised $22.6 million in equity funding. The Board of Directors also announced that it has appointed Harold W. Ingalls as Chief Financial Officer.

CardioMEMS Wins Frost and Sullivan Award 2006
CardioMEMS Inc announced that it is the recipient of the Frost and Sullivan 2006 Product Innovation of the Year Award. The Award is presented each year to the company that has demonstrated excellence in new products and technologies within its industry. CardioMEMS was recognized for its revolutionary EndoSure Wireless AAA Pressure Measurement System.

KFx Medical Receives 510K Clearance for Rotator Cuff Repair System
KFx Medical, an orthopedic medical device company, announced that it has received FDA Clearance to market its SutureCross™ Knotless Anatomic Fixation System, a minimally invasive percutaneous repair system for rotator cuff tears. The device simplifies the procedure and provides a more anatomical repair than existing techniques.

Asterand Announces Collaberation with Rubicon Genomics
Asterand, a human tissue research company, announced that it has partnered with Rubicon Genomics to discover more sensitive biomarkers for cancer diagnosis. Asterand will supply tissue and biofluid samples, and Rubicon will perform studies with the samples using its proprietary MethylPlex technology™.

HealthMedia Wins 2006 FastTrack Award
HealthMedia, a health care services company that delivers web based tailored behavior support programs, announced that it received the 2006 FastTrack Award. The Washtenaw Development Council presented the award to companies in Washtenaw County that achieved at least 20% average annual growth in the previous three years.

Uptake Medical Closes Series A Round
Uptake Medical Corp., a medical device company, announced that it raised $9 milion in its Series A Round. The company is developing treatments for emphysema and chronic obstructive pulmonary disease (COPD).

NeoGuide Announces FDA Clearance for its Computer-Assisted Colonoscopy System
NeoGuide Systems, Inc., a developer of medical devices to prevent and treat colorectal cancer, announced that it received 510(k) clearance for its colonoscopy system. The colonoscope is designed to enhance physician control, making the procedure faster and less painful for the patient.

Shoulder Arthroscopy Market Continues to Expand
The percentage of rotator cuff procedures performed arthroscopically is forecasted to increase dramatically over the next five years as more positive clinical data continues to be published. KFx Medical plans to launch a product by the end of 2006 that it hopes will further improve clinical outcomes.

CardioMEMS Closes Series C Financing
CardioMEMS, Inc., a developer of wireless pressure sensors used in the treatment of cardiovascular disease, announced that it raised $16 million in its Series C Round. The financing was led by new investor, Medtronic, Inc. The capital will allow the company to expand the launch of its Endosure Sensor, and to begin clinical trials on its second product.

HandyLab and DuPont Announce Partnership
DuPont Qualicon and HandyLab, Inc. have announced an agreement to jointly develop new products for food testing. DuPont will use HandyLab's patented microfluidic technology to develop devices that will simplify the testing process and produce quicker results.

CardioMEMS receives FDA Clearance for its Wireless AAA Pressure Management System
CardioMEMS, Inc received FDA 510(k) approval for its EndoSure Sensor, and will begin selling the system immediately in the U.S. The sensor, which measures intrasac pressure, is implanted during endovascular abdominal aortic aneurysm (AAA) repair.

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