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ARBORETUM VENTURES NEWS
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Arboretum Adds Aalto as Entrepreneur-in-Residence
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In October, Kris Aalto joined the Arboretum team as an
Entrepreneur-in-Residence (EIR). Over the next year,
Kris will work with Arboretum to identify a promising
early-stage opportunity based in Michigan and
assume a key role on the senior management team.
Kris has 15 years of medical device industry and
technology development experience, including key
positions at CR Bard, Inion and Stryker. Most recently
Kris served as Director of the Coulter Translational
Research Program at the University of Michigan-a
program aimed at advancing medical technology
toward commercialization and clinical use. Kris
earned an Honors Bachelor of Science in Biomedical
Engineering, magna cum laude, from Marquette
University and is active in the Society for Biomaterials
and the Regulatory Affairs Professionals Society.
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Arboretum Leads Investment into Mirabilis Medica and Re-Invests In Five others
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In August, Arboretum led a $10.5 million financing
round in Mirabilis Medica, an early-stage medical
device company located in Seattle, WA. Other new
investors in the company as part of this financing
included Split Rock Partners and Dow Venture
Capital. The funding will be used to continue
developing and testing of Mirabilis' image-guided
High Intensity Focused Ultrasound (HIFU) system for
treatment of gynecological diseases. Mirabilis'
technology is designed to allow a physician to destroy
pathological tissue deep inside the body without
causing damage to intervening structures, and to
monitor effects with real-time ultrasound imaging - all
in a low-cost office setting. While this approach could
address a variety of conditions, Mirabilis will initially
target uterine fibroids, which affect an estimated 25%
of women of reproductive age in the United States.
Over the past six months, Arboretum
has also made
several additional investments in existing portfolio
companies, including: Advanced ICU Care (St. Louis,
MO), CardioMEMS (Atlanta, GA) Inogen (Goleta, CA),
KFx Medical (Carlsbad, CA) and Uptake Medical
(Seattle, WA). Together these companies raised over
$70 million for further product development and
commercialization activities.
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Other Items of Interest
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- Arboretum named Top VC firm for
entrepreneurs. In the July issue of Entrepreneur
Magazine, Arboretum Ventures was named one of the
Top 100 venture capital funds for entrepreneurs. This
honor is shared with other notable venture funds
including Kleiner Perkins and Sequoia Capital. The
list was developed based on data collected
by "MoneyTree Report" from Pricewaterhouse
Coopers and the National Venture Capital
Association.
- Garfinkle named to "Most Influential Women"
list. This fall, Crain's Detroit Business named
Arboretum Managing Director Jan Garfinkle one of
southeastern Michigan's "Most Influential Women".
The list also includes individuals such as University of
Michigan President Mary Sue Coleman and Jennifer
Baird, CEO of Arboretum portfolio company Accuri
Cytometers.
- Bill Hawkins named CEO of Medtronic. In
August, Medtronic, Inc., the world's largest medical
technology company, announced that Arboretum
Technical Advisory Board member Bill Hawkins had
been elected Chief Executive Officer by the Company's
Board of Directors. Bill was previously the President
and Chief Operating Officer at Medtronic.
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