Arbor Surgical Pulls In $20M

Irvine-based Arbor Surgical, a developer of medical devices, said this week that it has closed on $20M in Series C funding. The funding was led by Medtronic, and was part of a licensing agreement between the companies. According to Arbor Surgical, Medtronic has been provided with manufacturing, marketing, and distribution rights to its advanced trilobal pericardial valve technologies. The firm's medical devices are used for heart valve replacement. Arbor's existing investors also participated in the funding, which brings the company's total raised to $54M. Medtronic's prior investors include Affinity Capital Management, Alloy Ventures, Baird Venture Partners, Delphi Ventures, Fisk Ventures, Johnson and Johnson, Kaiser Venture Capital, Sage Venture Partners, Sapient Capital and Three Arch Partners. More information »


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