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November 23, 2005
Medical Device CEOs Invest in Pluromed
7 CEOs, former CEOs and founders of US medical device companies invest in medical startup Pluromed Inc. The Company has developed a unique tool to simplify surgery and interventional procedures.
Woburn, MA (PRWEB) November 23, 2005 -- Pluromed Inc., a private medical device company that may revolutionize hemostasis during surgery and interventional procedures, announced today that 7 CEOs, former CEOs and founders of U.S. medical device companies have invested in the initial close of its current Series A Convertible Preferred Stock Offering.
“We believe it is important to have investors that substantiate our view of the business opportunity”, says Jean-Marie Vogel, Pluromed co-founder and CEO. “I feel very privileged to have the ability to access that extraordinary pool of talent, and expect it to be a major asset as we continue to seek their advice and guidance to build the value of Pluromed”.
Proceeds from the Series A funding will be used for clinical/regulatory processes towards market clearance of the Company's lead product, and other corporate purposes.
About Pluromed:
Pluromed has developed LeGoo™, a unique and patent protected medical device to manage bleeding during surgery and interventional procedures. LeGoo™ is completely atraumatic, and appears to have many additional valuable applications beyond the Company’s initial cardiovascular and urology markets. Pluromed has carried out extensive preclinical testing in the U.S., Canada and Europe, which it plans to follow in 2006 with clinical studies in major medical centers.
Pluromed was founded in 2003 by Jean-Marie Vogel, formerly founder and Chairman of BioSphere Medical and Cryoma Laboratories, and previously a sales and marketing executive with Sepracor and Millipore Corporation; and by Dr. Alexander Schwarz, formerly Research Director of BioSphere Medical, an expert in vascular applications of polymers. The Company has production and office facilities in Woburn, Massachusetts.
This press release does not constitute an offer to sell or solicitation of an offer to buy the company’s preferred stock in any jurisdiction, nor does it constitute any endorsement of the company by any investors beyond their decision to invest. Shares of Pluromed Series A Convertible Preferred Stock are only being offered in a private placement under Regulation D under the Securities Act of 1933, as amended, and private placement exemptions from the registration and qualification requirements of applicable state securities laws and only to investors who are “accredited investors” and who otherwise meet the suitability requirements set forth in the company’s Confidential Private Offering Memorandum.
Posted by Industrial-Manufacturing at November 23, 2005 02:03 AM