Corindus Vascular Robotics (OTC:CVRS) last week said it hopes to raise as much as $46 million and uplist its stock to a larger exchange as it looks for another indication for its CorPath robot-assisted surgery platform.
Waltham, Mass.-based Corindus said it hopes to list on the New York Stock Exchange under its current "CVRS" symbol.
The CorPath 200 device won 510(k) clearance from the FDA in 2012 for percutaneous coronary interventions. Unlike other robot-assisted surgery devices, it’s designed with a radiation-shielded "cockpit" for the surgeon. The $40 million offering is slated to include a $6 million over-allotment for the underwriters.
The company said it’s sold 24 of the CorPath devices in the U.S. and another 2 outside the country.
Part of the Corindus business plan is to expand the approvals for CorPath to other indications, such as peripheral artery disease, neurological and structural heart interventions, the company said.
In February Corindus launched a 20-patient trial of the device in treating PAD, aiming to evaluate the safety and effectiveness of the CorPath device in PAD patients with lower-extremity arterial blockages.