The Foundry, LLC, a Menlo Park, California-based medical device company incubator, announced that it has completed a $3m Series A financing for another start-up, which is its twelfth company.
Investors in the unnamed company were Morgenthaler Ventures, Split Rock Partners, and Domain Associates.
The financing will provide the resources to continue inventing, developing and commercializing innovative solutions to major unmet medical needs.
The company is not disclosing its product or market plans.
This investment marks the entry of Domain Associates in the Foundry Syndicate.
Commenting on the new partnership, Nimesh Shah, Principal at Domain Associates, was reported as saying: “My colleagues at Domain and I are excited to be working with The Foundry to develop the next generation of innovative medical device companies.
“Over the past eleven years, The Foundry has created companies which have delivered breakthrough technologies to the clinic, including new therapies for stroke, obesity, hypertension, emphysema, and mitral valve disease”.
FinSMEs
14/01/2010