Knoxville, TN; September 8, 2016 – the Angel Capital Group Alliance of angel investors in 10 cities across nine states, has invested in Arkis Biosciences, Inc. (www.arkisbiosciences.com/) as part of a $3.4M round of financing led by premier biosciences venture capital firm Innova Memphis. This marks an expansion of the ACG portfolio of medical device investments over the last 8 years.
“Our investment in Arkis confirms our belief that there are outstanding companies and investment opportunities across the heartland that can prosper with the support of angel funding and assistance,” said Eric Dobson, Chief Executive Officer of ACG(www.theangelcapitalgroup.com). The company produces a suite of neurological tools and advanced implantable devices to address hypertension and conditions such as hydrocephalus. “We feel this company is on the leading edge of its area of science and medicine. And, we are thrilled to be part of this company’s future growth plan,” Dobson expanded.
Chad Seaver, CEO of Arkis BioSciences said, “The success of this financing round underscores the confidence in Arkis’ solutions to address the longstanding underserved needs of the market and the value of our strategy.” He continued, “Arkis’ next generation Endexo® lumens and streamlined surgical instrumentation are just the beginning of a pipeline of R&D innovations backed by strong investor support, positioning Arkis to become the clear innovator in patient care and provider efficiency for our market.”
ABOUT ARKIS BIOSCIENCES:
Arkis BioSciences is a medical device company, offering next generation surgical tools and implantables for advancing the neurosurgical treatments of intracranial hypertension arising from traumatic brain injury, hemorrhagic stroke, hydrocephalus, and similar disorders. The company’s Tunneling GuidewireTM allows for 1/3 less invasive ventriculoperitoneal shunt procedures while its Endexo® anti-thrombogenic catheters are slated for addressing prevailing catheter obstructions for more durable cerebrospinal fluid management. Further innovations within the company’s R&D pipeline are poised to overall transform the market for intracranial hypertension treatments.
ABOUT ANGEL CAPITAL GROUP:
The Angel Capital Group is a fully syndicated private equity network with operations in nine states. The network brings Angel investors and entrepreneurs together in an environment that celebrates innovation, rewards strategic risk-taking, and promotes performance. Through membership in Angel Capital Group, once-solitary Angel investors, or even a single Angel Group, have access to the best deals (regardless of location or industry) without facing the pressure to fund an entire deal on their own. A national brand presence allows ACG to source hundreds of quality investment opportunities, supported by a suite of investor services, to incentivize for true portfolio diversification. ACG enjoys a 10-year history and has invested approximately $44M in 137 companies across a variety of market sectors. The portfolio has created over 4500 jobs and $750M in follow-on capital investments by other funds.