Wednesday, January 27, 2010

Neomend Raises $30M

Irvine-based Neomend, a developer of sealants for the surgical market, announced this morning that it has raised $30M in a Series D funding round. Neomend said the round was led by Clarus Ventures, which contributed $17M of the total round. Other investors in the funding were Sanderling Ventures, Novo Ventures, Vivo Ventures, and Prospect Venture Partners. According to Neomend, the new funding will help move the firm towards cash flow break-even. As part of the new funding, the firm said it has added David Clapper to its board of directors. Clapper was most recently President and CEO of SurgRx. More information »

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