Vascular access system maker Avenu Medical has raised $13.1 million in a new round of equity financing, according to an SEC filing posted this week.
The company has not yet stated how it plans to spend funds raised in the round or when it plans to close the round.
Money in the round came from 77 unnamed sources, with the first sale officially dated today, according to the SEC filing. The company is looking for an additional $3 million, bringing the total raised to $16.1 million, before closing the round.
Last June, Avenu Medical said it won CE Mark approval in the European Union for its Ellipsys vascular access image-guided catheter system designed to percutaneously create arteriovenous fistulas for hemodialysis access.
The company also said it won investigational device exemption approval from the FDA for the device, claiming it is the 1st device to receive IDE clearance for the minimally invasive creation of arteriovenous fistulas.
In December 2015, Avenu Medical raised $6 million in a round of debt financing, according to an SEC filing. Funds came from 46 anonymous investors, according to an SEC filing. No details on how the funds will be spent or who joined the round of funding have been disclosed by the company.
Avenu Medical founder Dr. Jeffrey Hull came up with the idea for the device after brainstorming with a friend about medical devices that haven’t changed in over 30 years, he told Endovascular Today in an interview last June.