SOURCE: Mid Atlantic Bio Angels

Mid Atlantic Bio Angels

June 05, 2013 07:55 ET

Mid Atlantic Bio Angels (MABA) Announces First Investment of $500,000

The Life Science Investor Group Invests in Neuroradiology Technology Developer Company, Cerus Endovascular

NEW YORK, NY--(Marketwired - Jun 5, 2013) - Mid Atlantic Bio Angels (MABA) today announced their first investment of $500,000 in Cerus Endovascular Ltd, a company that has developed a minimally invasive implantable medical device for treating intracranial aneurysms.

The funding, which was part of a larger investment round, will be used by Cerus Endovascular to help initiate product development and to fund more in-depth clinical trials leading to CE marking approval. Todd Derbin, CEO of Cerus Endovascular, said, "The investment means we can further develop our technology, which addresses unmet clinical needs in the interventional neuroradiology, cardiovascular, urology and gastroenterology markets."

It is atypical for angels to invest in companies outside of their region but the New York City-based global investment group is willing to do so with UK company, Cerus Endovascular. "Our investors reviewed the company, its management and technology and were impressed with what they found," said Yaniv Sneor, one of the founders of MABA. "MABA's investors look for deals where the science, management, market and economics seem to make the risks worth taking and this deal met the investors' criteria."

This first investment was completed just one month prior to MABA's one-year anniversary. MABA is an invitation-only angel investor group that focuses only on life sciences. "One of the aspects that makes MABA unique is the depth of talent in the group. Some of the brightest and most experienced life science investors, MDs and scientists have joined our group," said Bernard Rudnick, one of MABA's founders.

About MABA
Mid Atlantic Bio Angels (MABA) is an angel investor group focused exclusively on new and emerging life science companies. Membership in MABA is by invitation only, and is extended to active, accredited investors (life science angels) who wish to make investments in life science companies, as well as institutional investors and life science company venture arms wishing to invest alongside the angels. MABA places no geographical restrictions or requirements for presenting companies, as long as meaningful and effective post-investment monitoring of these companies can be achieved. For more information: http://bioangels.net

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