Aragon Surgical Secures $25 Million Series B Financing
PALO ALTO, Calif., Mon Jan 7, 2008 6:00am EST--(Business Wire)--Aragon Surgical, Inc., a developer of surgical devices, announced today that it has completed a $25 million private equity financing. The Series B financing was led by Bay City Capital and included Integral Capital Partners as well as current investors Delphi Ventures and ONSET Ventures.
"We are very excited to have Bay City Capital and Integral Capital Partners join the Aragon Surgical team," said Dr. Peter Edelstein, a surgeon, and President and CEO of Aragon Surgical. "Along with our current top-tier investors, our new investors bring tremendous experience at a critical time in our company's history, with the recent launch of our first product and with several additional products in development."
Nick Pliam, who led Bay City Capital's investment, explained that "Aragon Surgical is developing a platform of surgical products which offer clear and unique value propositions to surgeons, patients, and operating facilities. We were impressed by the company's demonstrated pace and success in moving forward during the little more than two years since Aragon Surgical was founded."
About Aragon Surgical, Inc.
Located in Palo Alto, California, Aragon Surgical is a venture backed, market driven surgical device company that is developing and commercializing a variety of surgical instruments intended to reduce operative time and improve patient safety, benefiting both patients and surgeons. Aragon Surgical was founded in 2005 with investments from Delphi Ventures and ONSET Ventures. Please visit us at www.aragonsurgical.com or call Customer Service toll free at (888) 207-2058.
About Bay City Capital
Bay City Capital was established in 1997 for the purpose of managing investment funds in the life sciences industry. Since that date, it has managed six venture funds representing $1.5 billion in committed capital invested in over 70 companies (with a new $500 million fund). Five of these funds are general life sciences funds, and one is a nutrition and agribusiness sector fund. For more information, visit www.baycitycapital.com.
About Integral Capital Partners
Integral Capital Partners operates a family of partnerships that invests in expansion-stage private and growth-stage public companies in the information technology and life sciences industries. Since its inception in 1991, Integral has organized and managed seven funds and currently manages over $900 million in assets. With its insights and network of business development resources, Integral offers the promise of value-added investing to portfolio companies. For more information, visit www.icp.com.
Delphi Ventures is a venture capital firm that has focused on early stage investing in medical devices and biotechnology for two decades. With more than $850 million in committed capital, Delphi Ventures has funded over 150 companies. More than 90 of its portfolio companies have either completed an initial public offering or have been acquired by a leading healthcare corporation. For more information, visit www.delphiventures.com.
About ONSET Ventures
ONSET Ventures (www.onset.com) specializes in providing an ideal mix of start-up, follow-on, and intellectual capital to entrepreneurs and early-stage technology ventures, to help transform world-class ideas into sustainable and valuable businesses, through a process of "venture craftsmanship." The firm has backed over 100 companies since 1984 and now has more than $700 million under management. ONSET Ventures focuses exclusively on information and medical technology-based start-ups, and has a long history of successful ventures in each of these sectors. For more information, visit www.onset.com.
Christine L. Cunningham, 650-543-3100
Vice President of Marketing & Business Development