Minnow Medical, which we profiled just over a year ago, has raised a total of $4.7 million through two separate financings, according to a statement yesterday. The lead investor in both transactions was Neomed Management of Switzerland, according to Minnow, which has a new CEO, Raymond W. Cohen, who has replaced founding CEO Tom Steinke. Minnow also has moved its headquarters from San Diego to Laguna Hills, CA, in Orange County.
Former Domain Associates partner Olav Bergheim, Minnow’s board chairman, Christopher Weil & Co., and several private investors also participated in the financings. Minnow plans to use the proceeds to pay off its bank debt, for working capital, and to fund European clinical trials of its ZCath System, the proprietary angioplasty balloon catheter combined with controlled radiofrequency energy. The design is intended to prevent restenosis, a recurrence of the narrowing of a blood vessel, in peripheral vascular stents.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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