NeuWave Medical zeros in on $19M in equity financing

July 31, 2013 by Sony Salzman

NeuWave has $5 million left to raise before hitting its target in a hoped-for $19 million funding round.

Funding roundup

Wisconsin medical device maker NeuWave Medical is more than halfway to wrapping up a hoped-for $19 million equity funding round, with $14 million in the bank so far and 22 accredited investors, according to an SEC filing.

The new filing offered more details on a fundraising round that began almost 1 year ago. As of yesterday, the ablation device company has about $5 million left to go to top off the fund-raise.

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NeuWave, a University of Madison Wisconsin spin-out company, makes a soft tissue ablation device called Certus 140. The company primarily focuses on liver, kidney and lung tumor treatments.

The company started off as Micrablate LLC., and was initially funded through grants. Last year NeuWave brought in a $14 million Series B round for its Certus system.