Dover medtech firm receives $20m in VC financing

TissueLink Medical Inc., a privately held medical technology company headquartered in Dover, has received $20 million in Series E financing.

The financing round was led by investors Arnerich Massena and Associates of Portland, Ore., and RiverVest Venture Partners, a venture capital firm based in St. Louis, Mo., which specializes in emerging medical device, biopharmaceutical and other health-care ventures.

The latest found of funding will assist TissueLink in the expansion of its sales and marketing effort as well as finance additional working capital and product development, said the company.

TissueLink develops and markets devices that reduce or eliminate surgical bleeding.

The company also reported that Jay W. Schmelter of RiverVest Ventures has been elected chairman of TissueLink’s board of directors. — CINDY KIBBE