Arbor, Medtronic Close $20 Million Valve Licensing Agreement


January 28, 2008

January 28, 2008 - Arbor Surgical Technologies Inc. closed a $20 million dollar Series C financing round led by Medtronic Inc. as part of a licensing agreement, providing Medtronic with manufacturing, marketing and distribution rights to Arbor’s advanced trilobal pericardial valve technologies.

With the closing of this event, Arbor has raised approximately $54 million dollars to date. This financing event will allow Arbor to expand clinical trials of its core technologies, the Trilogy Aortic Valve System and the sutureless TRE implantation tool. These devices are designed to enable more surgeons to perform minimally invasive heart valve procedures.

Financial terms of the license agreement have not been disclosed. Arbor retains exclusive rights to the modular Trilogy Aortic Valve System and sutureless TRE implantation technologies.

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