HydroCision gets $12.7 million in new financing

HydroCision Inc. has secured $12.7 million in new financing for development of its fluid-based tools for spinal surgery. The deal was led by Triathlon Medical Ventures of Cincinnati. Existing investors Oxford Bioscience Partners and Zero Stage Capital, both of Boston, and Newbury Ventures of Redwood Shores, Calif., also participated. The Billerica company's SpineJet system propels a thin saline stream at high speeds to cut through tissue. The device already is approved for use in the United States and Europe and will reach Asian markets by June 2007, HydroCision chief executive Douglas Daniels said.

The new money will be used to fund new clincial trials, hire sales and marketing staff and expand manufacturing operations.
(Dave Price)

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