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2002 JAN 10 - (NewsRx.com & NewsRx.net) -- Inlet Medical, Inc., a medical device company that develops and markets products for pelvic reconstructive surgery for women, has closed on $850,000 of Series D-1 participating preferred stock, for a total of $1.85 million of this round to date.
Investors in the transaction are Ascent Medical Technology Fund, a venture capital fund based in New York, and Quatris Fund, a Minneapolis venture capital fund focused on early stage companies primarily in the Upper Midwest and Minnesota. Ascent Medical Technology Fund is a previous investor in Inlet Medical.
"Given the difficult market conditions over the last several months, we are especially pleased to have this investment in Inlet Medical," said Lee Jones, Inlet Medical president and chief executive officer. "These funds do not complete this round of financing but will take Inlet Medical a long way toward ...
Source: HighBeam Research, Inlet Medical Completes $850,000 Private Placement.(Brief Article)