Friday January 8, 2016 0 comments
GOLDEN -- BiO2 Medical Inc. announced it raised approximately $9 million during its Series D Preferred funding round.
The company said it also secured an additional $5 million in venture debt financing from Oxford Finance LLC. The deal also has an option for an additional $3 million upon FDA 510(k) clearance of the company’s Angel Catheter.
BiO2 Medical said the capital will be used to fund the U.S. product launch, expansion of the U.S. and outside U.S. sales force, incremental R&D projects and general infrastructure development.
“With this equity and venture debt capital secured, we are on the path to commercializing the Angel Catheter in the U.S. and providing pulmonary embolism prophylaxis to over 1 million patients who are at high-risk of pulmonary embolism and are eligible for existing venous thromboembolism prevention,” said Christopher E. Banas, company chair and CEO.
BiO2 Medical said the Angel Catheter will be the first mechanical pulmonary embolism protection device with a prophylactic indication, providing immediate bedside venous access without the need of flouroscopy.