Friday, May 28, 2010

Flush with VC, Cohera Medical Raises $12.2M of $20M

PITTSBURGH, Pa. -- According to an SEC filing, Cohera Medical has raised $12.2 millionagainst a targeted $20 million from Bradford Capital Partners and Kern Whelan Capital.

The company has now amassed more than $60 million in venture backing. As reported by citybizlist, in May 2008 Cohera collected more than $7.6 million from Kern Whelan and in October of the same year secured $16.1 Million in Series B Financing from Whelan and Bradford. In January of 2010 the company received Series C funding totaling $25 million.

Cohera is a Pittsburgh based company that develops a line of surgical adhesives that are synthetic, biocompatible and resorbable. It is planning to enter clinical trials with its product starting with a target application in plastic surgery.

Named in the filing are Patrick Daly, co-founder president and chief executive officer, Richard Wonsettler, vice president of finance and chief financial officer, Dottie Clower, vice president of research and development and operations, and Eric Beckmanco, co-founder and chief scientific officer; and directors Albert Dombrowski, James Liken, John Kern (Kern Whelan Capital),Doros Platika and Martin Calihan (Bradford Capital Partners).

Bradford Capital Partners is a Pittsburgh-based private investment company that participates in venture capital investments and engages in the acquisition and development of entrepreneurial businesses.

Based in San Francisco, Calif., Kern Whelan Capital manages investment portfolio stretching from new ventures to established and profitable businesses across many industry sectors. The company invests only in few companies and has long term approach towards it liquidity horizon.

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