Wednesday, June 1, 2011

ADVANCE Medical Raises $6M

Palo Alto-based ADVANCE MEdical, which is helping to commercialize pharmaceuticals and medical device technologies in Brazil and other Latin American countries, said Wednesday that it has raised $6M in a Series A financing round. The round was led by Venrock as well as several un-named, Brazilian institutional investors and angels. The firm said it is partnering with ZELTIQ Aesthetics, the maker of the CoolSculpting medical device for reducing localized subcutaneous fat, to market that device in Brazil. ZELTIQ is based in Pleasanton, and is also backed by Venrock, among others. More information »