June 15, 2012 | last updated June 18, 2012 3:13 pm

New Haven's NovaTract gets $2.4M equity injection

Eleanor L. Tandler, founder, CEO of NovaTract Surgical Inc.

Connecticut Innovations, the state's quasi-public authority responsible for technology-based investment, has made a $1 million investment in New Haven medical device maker NovaTract Surgical Inc.

The investment is part of a $2.4 million Series A funding round, that also involved several proviate venture funds including Vital Financial, Golden Seeds, LaunchCapital, Enhanced Capital, Advantage Capital Connecticut, and individual investors.

CI previously made $208,000 in pre-seed investments in NovaTract in 2010, as well as a $250,000 seed investment in 2011.

NovaTract is developing medical devices that reduce the number of incisions used in minimally invasive surgery. The company licensed its core technology from Yale University.

Dr. Kurt E. Roberts, an assistant professor of gastrointestinal and general surgery at Yale School of Medicine and NovaTract's scientific founder, developed the technology and related techniques for its use.

NovaTract's initial product is an internal organ retraction device that helps patients who must undergo abdominal surgery such as gall bladder removals and appendectomies. The device will allow general surgeons to reduce the number of incisions required to perform the surgery laparoscopically.

Free E-Newsletters

Sign up now for our daily and weekly
e-newsletters! Click Here

Today's Poll Will other hedge funds follow Lampert out of CT?<>
Most Popular on Facebook
Copyright 2017 New England Business Media