Pediatric ear tube delivery device developer Preceptis Medical is looking to raise $1 million, according to an SEC filing posted this week.
The Plymouth, Minn.-based company produces the Hummingbrid TTS tympanostomy tube system designed to reduce pain for pediatric patients undergoing ear tube procedures. T
he device won FDA clearance last July for use with pediatric patients with moderate sedation, according to the company’s website.
The company claims the device reduces pain and manipulations to the eardrum during ear tube placement procedures, which allows conscious sedation and doesn’t require general anesthesia.
Preceptis is now seeking $1 million in financing, with a minimum investment of $25,000 required, according to an SEC filing.
The company will be offering senior convertible promissory notes and warrants in the round, according to the filing.