Cohera Medical Raises to Use Series D Financing for Tissue Adhesive

Pittsburgh, Pa.-based surgical adhesive and sealant manufacturer Cohera Medical Inc. has raised $8.4 million in series D financing through private investors. The money will be used to fund U.S. clinical trials of a surgical adhesive called TissueGlu and support future technologies in the company’s product pipeline, including FlexSil surgical sealant.

TissuGlu is a lysine-derived urethane adhesive whose chemical composition, according to the company, cures when in contact with moisture. It is designed to be resorbable and is biocompatible for internal use. The adhesive uses no animal or human based ingredients. Cohera claims the glue forms a bond between tissues that is five times stronger than other products on the market for abdominoplasties (tummy tucks). It was developed specifically to address the particular needs of surgeons who perform such procedures that require the creation of large planar tissue flaps.

Company President and CEO Patrick Daly is gunning for an expansion in indications of use for TissueGlu. “I believe that Cohera Medical is at the forefront of bringing some of the most exciting surgical products to market that have the potential to change the way patients recover from so many types of large flap procedures—from abdominoplasties and mastectomies to lymph node dissection in cancer patients, bowel procedures and reconstruction of sternal defect in open-heart surgery,” he said.

TissuGlu received CE Mark approval in 2011, and it has been on the market in Germany since September last year. It is not yet approved for use in the United States.

“Cohera Medical has done a remarkable job of attracting plastic and reconstructive surgeons in Germany who are successfully using TissuGlu,” said John C. Kern, founder and general partner of Kern Whelan Capital LLC, and manager of Kern Medical III.  “We are excited that Cohera is also pursuing the development of FlexSil, a proprietary bowel sealant with over a billion dollar market potential. Both first-of-its-kind technologies represent very attractive investment opportunities.”

In 2012, Cohera intends to expand the use of TissuGlu into other European markets as it forges ahead with U.S. clinical trials.

Currently, most patients who undergo abdominoplasty procedures and other flap procedures require the insertion of drains to remove fluids that accumulate under the skin at the surgical site. In some cases, drainage is inadequate and the excess fluid accumulation (seroma) requires additional procedures for removal. By adhering the tissue flap created during the operation to the underlying tissue, TissueGlu is purported to help reduce the fluid that can accumulate in the space and ultimately reduce the time it takes to drain that fluid.