PE-backed surgical glue maker Cohera Medical closes $26.3m Series D round


surgery1Private equity-backed surgical glue and sealant developer Cohera Medical has picked up another $9.3m to close its Series D financing round on $26.3m.

Bradford Capital Partners and Kern Whelan Capital are existing backers of Cohera, although it is unclear whether they provided the latest top-up to the Series D round.

Cohera said it would use the funding to drive towards US regulatory approval for its TissuGlu surgical adhesive and CE Mark approval for its Sylys surgical sealant.

Company president and CEO Patrick Daly said, “Our goal is to improve patient care and recovery time through natural healing and reduced post-operative treatments, so patients can quickly resume normal activities.

“The continued support from our investors is a testament to our significant milestones of 2013, which included the completion of our pivotal ‘No-Drain’ study for TissuGlu and our first in human study for Sylys.”

Currently, most patients who undergo abdominoplasty procedures or other large flap procedures, such as mastectomy or inguinal lymph node dissection, require the insertion of drains to remove fluid that accumulates under the skin at the surgical site.

Drains are often uncomfortable for the patient and can lead to additional complications.

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