The US-based corporate venturing unit of pharmaceutical device firm Covidien, has led a $13.3m round of financing for US-based medical device company Aegea Medical.
Covidien Ventures was joined by other investors in the round, including venture capital firms Delphi Ventures and Alloy Ventures. Both had contributed presently undisclosed amounts of seed funding prior to this round.
Aegea is currently developing a minimally invasive treatment to counter abnormal uterine bleeding. Amy Belt, director at Coviden Ventures, will join the board at Aegea as part of the deal.
Don Gurskis, general manager at Aegea, said: "We look forward to proving excellent clinical outcomes and are delighted to formalise our relationship with Covidien."