Published on October 21, 2013 at 9:20 AM
Kona Medical, Inc. (www.konamedical.com) today announced it has closed a Series D equity financing of $10 million. Morningside Group, a broad-based investment firm with significant presence in China, led the investment and is the sole investor. "These funds are earmarked for the China market," said Michael Gertner, MD, founder and CEO of Kona Medical. "Our research predicts a very large market in China for a non-invasive therapy to treat hypertension. This investment will allow Kona to begin navigating the complex clinical, regulatory, and intellectual property issues associated with this region. We are very pleased to have an experienced investor in the region join the Kona syndicate."
"Kona Medical has tremendous potential," said Reenie McCarthy for Morningside. "We look forward to working with the company to bring this important therapy to market."
SOURCE Kona Medical, Inc.