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ARBORETUM VENTURES NEWS
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Arboretum Makes New Investments in Three Promising Companies
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Esperion Therapeutics: In April 2008,
Arboretum participated in a $22.75 million Series A
financing for Michigan-based Esperion Therapeutics,
along with Alta Partners, Domain Associates, and
Aisling Capital. Esperion, led by Roger Newton, Ph.D.,
is a biopharmaceutical company focused on
developing new therapies to treat cardiovascular and
metabolic disease. The company is a spin-out of
Pfizer Inc.
Accord Biomaterials: In April 2008, Arboretum
led a $1 million Series A investment into Ann Arbor-
based Accord Biomaterials, a spinout from local
incubator MC3. Accord holds an exclusive license
from the University of Michigan to develop novel nitric
oxide coating technologies to prevent clots and
infections from forming on medical devices. Co-
investors in the company include Sigvion Capital and
Wolverine Venture Fund. Tim Petersen joined
Accord's Board of Directors as part of the financing.
NXThera: In May, 2008, Arboretum Ventures
led a $3 million Series A financing for NXThera, a
men's health company located in Minneapolis, MN.
NXThera is developing a novel approach for the
treatment of Benign Prostate Hypertrophy (BPH)
utilizing technology developed by Michael Hoey and
John Shadduck. The technology will provide a simple,
easy to use technology that can be performed in a
physician's office. Jan Garfinkle joined the board of
Directors, along with Sami Hamade from co-investor
Aberdare Ventures.
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Arboretum Opens Cleveland Office and Adds Snyder as Venture Partner
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Arboretum Ventures, headquartered in Ann Arbor, MI,
recently opened an office at the BioEnterprise facility in
Cleveland, OH. BioEnterprise is a business formation
accelerator for bioscience companies, along with
partners such as Case Western Reserve University,
Cleveland Clinic, and University Hospitals.
The office will be managed
by Jon Snyder, who is
joining Arboretum as a Venture Partner. Jon has over
20 years of management experience in biomedical
and healthcare sales and marketing, with significant
experience in bringing new healthcare products to
market. Jon began his career at STERIS Corporation,
focusing on domestic and international product
development, marketing and sales operations
management. He led the adoption of
neurostimulation therapies at leading comprehensive
epilepsy centers during his time at Cyberonics and
drove the commercialization of innovative imaging
technologies, such as Optical Coherence
Tomography (OCT), at Imalux as its Vice President of
Marketing and Sales. Jon also focused on developing
marketing strategies for growth-oriented applications
in minimally invasive surgery, neurosurgery, spine,
and plastic surgery markets while at Cardinal Health.
Jon will work closely with Arboretum's Michigan-
based team to identify promising early-stage medical
device opportunities based in Ohio.
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