A medical device company with a tissue glue technology for tummy tucks and other applications has raised more than $8 million in convertible notes as part of a series D round to expand its marketing efforts for the CE Mark-approved device and complete clinical trials in the U.S.
Patrick Daly, president and CEO of Cohera Medical, told MedCity News it is conducting a patient study in Germany using TissuGlu in 30 patients without using drains and a clinical trial in the U.S. with 150 participants for U.S. Food and Drug Administration approval.
TissuGlu surgical adhesive is used in plastic and reconstructive surgery that involve flap procedures. One benefit of the device, according to Daly, is that it negates the need for drains to get rid of excess fluid that accumulates beneath the skin at the surgical site. If drainage is inadequate, it can create the risk of seroma and create the need for additional surgery.
Other large flap procedures where Daly sees opportunities for his adhesive include lymph node dissection in cancer patients, bowel procedures and reconstruction of sternal defect in open-heart surgery.
Describing how the company fits into the sealant and adhesive niche of medical devices, Daly said: “With utmost respect to previous technologies there has never been a biodegradable adhesive. We are a first-of-its-kind product.”
In addition to the TissuGlu, the company has other products in its pipeline. The company is developing a surgical sealant for bowel-repair surgeries called FlexSil, with more than $1 billion market potential, according to the company.
Last year, the Pittsburgh-based firm raised more than $6 million. The TissuGlu adhesive is based on technology developed at the University of Pittsburgh.