VC-backed Delphinus appoints new president and CEO

Delphinus Medical Technologies, which is backed by Arboretum Ventures and Beringea, has hired as Mark J. Forchette president and CEO. Previously, Forchette worked at OptiMedica Corp. where he served as president and CEO. Delphinus is maker of SoftVue, a whole breast ultrasound system.


Beringea, Arboretum Ventures lead $10 mln funding in Rethink

Beringea and Arboretum Ventures have led a $10 million Series C funding round in Rethink, which provides web-based learning and care management tools for children with autism and other behavioral health disorders. Existing investors also joined the funding round. Michael Gross, managing director at Beringea, and Paul McCreadie, managing director at Arboretum Ventures, will join the company’s board.


Midwest venture tries to up its game: VCJ

Midwest venture investing has been on an upswing over the past few years. A lot of this has to do with activity in Illinois, where the Chicago startup ecosystem has grown, affiliate publication Venture Capital Journal reports. But other states are trying to pull their own weight.


Pfizer Ventures leads Series B round for NeuMoDx Molecular

NeuMoDx Molecular has raised $21 million in Series B financing. Pfizer Ventures led the round with participation from Baird Capital, Venture Investors and return backer Arboretum Ventures. Based in Ann Arbor, Michigan, NeuMoDx Molecular is a diagnostics company.

BAROnova Closes Series C

trong>BAROnova has closed its Series C financing of $27.3 million, led by investments from Sante Ventures and Boston Scientific Corporation, an innovator of medical devices and technologies. Investors included Series B investors ONSET Ventures, Highland Capital Partners and Arboretum Ventures, along with new investor Lumira Capital. Financial terms were not disclosed.

MyHealthDIRECT Appoints Board Member Cox as CEO

MyHealthDIRECT has appointed Tom Cox, a current MyHealthDIRECT board member, to the role of Chief Executive Officer, effective August 1, 2012. Cox will replace MyHealthDIRECT founder Jay Mason, who will remain with the company and continue to serve as a board member. MyHealthDIRECT is backed by Arboretum Ventures and Chrysalis Ventures. PRESS RELEASE MyHealthDIRECT, the […]

Wolverine Venture Fund Participates in Newest Round of Sonitus Medical

The University of Michigan’s Wolverine Venture Fund, managed by the school’s business school students, is among those investors to invest in the newest round of Sonitus Medical, a medical device company that manufactures a non-surgical, removable hearing device that transmits sound via the teeth. Other participants in the $25 million Series D included Arboretum Ventures and […]

Uptake Medical Secures Funding

Uptake Medical has closed a Series C funding round. The round was led by Singapore-based Crescent Point Group, with existing investors, Maverick Capital, ONSET Ventures, GBS Venture Partners, WRF Capital, Arboretum Ventures and Affinity Capital, making additional investments. Uptake Medical is focused on the development and commercialization of innovative, non-surgical treatments for lung diseases. PRESS […]

Advanced ICU Care Closes Funding Round

Advanced ICU Care, an independent provider of tele-ICU programs, has closed a new round of equity funding. The financing was led by Trident Capital and includes existing investors, Versant Ventures, Arboretum Ventures, and Catalyst Capital. John Reardon, managing director with Trident Capital, will join the Advanced ICU Care board of directors. PRESS RELEASE Advanced ICU […]

Tangent Medical Closes $4.5M

Arboretum Ventures and Flagship Ventures co-led a $4.5 million Series A round for medical device startup Tangent Medical Technologies Inc. Osage Ventures and several undisclosed angel investors also contributed. Tim Petersen of Arboretum and Harry Wilcox of Flagship have joined Tangent’s board.

Cervilenz Boosts Series A to $8.35M

Cleveland-based Cervilenz has added to its Series A round, closing the round with $8.35 million. The company, backed by investors including Arboretum Ventures and Chrysalis Ventures, plans to use the funding to continue commercialization of its medical devices for women. The device is designed to predict the risk of preterm birth in pregnant women.

Slideshow: 15 Largest U.S.-based Venture Funds Raised in Q3

Q3 certainly wasn’t a pretty quarter for venture fundraising. In fact, it was downright ugly, with just $1.72 billion raised by 52 U.S.-based venture funds, the smallest amount raised since Q3 2003, according to the National Venture Capital Association and Thomson Reuters (publisher of peHUB). In contrast, 49 U.S.-based VC funds raised nearly $2.9 billion in […]

MyHealthDIRECT Seals $4M Series B

MyHealthDIRECT, a web-based system that allows patients to schedule healthcare appointments, has closed its Series B investment round with $4 million. Ann Arbor, Mich.-based Arboretum Ventures and Louisville, Kentucky-based Chrysalis Ventures provided the funding, which will be used to expand sales, client services and technical resources, the company said.

NxThera Adds $12.6M Series B

NxThera Inc., a St. Paul, Minn.-based medical devices company, has added $12.6 million in Series B financing. American Medical Systems Inc. led the round, and was joined by existing investors Arboretum Ventures, Aberdare Ventures and GDN Holdings. NxThera is developing medical technologies to treat a variety of endourology conditions.

Arboretum Raises $70.2M Toward New $125M Fund

Early stage health care investor Arboretum Ventures has raised $70.2 million toward a new $125 million fund, representing a significant expansion of the firm. The partnership, based in Ann Arbor, Mich., released the news in a filing with the Securities and Exchange Commission on Wednesday. The 8-year-old firm is now investing its second fund and […]

PathCentral Raises $10 Million In Series B Financing

PathCentral said Tuesday that it has raised $10 million in Series B financing. Okapi Venture Capital, Arboretum Ventures, and Baird Venture Partners co-led the round. Irvine, Calif.-based PathCentral is an anatomic pathology services company. Okapi Venture Capital is a seed and early stage life sciences and information technology investor. Arboretum Ventures, of Ann Arbor, Mich., is an early stage VC firm that focuses on healthcare services. Baird Venture Partners is the VC fund of Baird Private Equity.

George Dunbar Joins Arboretum Ventures

George Dunbar has joined Ann Arbor, Mich.-based Arboretum Ventures as a venture partner. Last month he stepped down as president and CEO of stem cell company Aastrom Biosciences Inc. (Nasdaq: ASTM). Prior CEO jobs have been with Quantum Dot (bought by Invitrogen) and Epic Therapeutics (Baxter). www.arboretumvc.com

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