BridgePoint drums up $9 million

December 22, 2010 By MassDevice staff

BridgePoint Medical Inc. raised $9.1 million from the sale of equity, according to documents filed with the Securities & Exchange Commission.

The Plymouth, Minn.-based company is developing balloon catheter system to treat chronic coronary and peripheral total occlusions, a condition in which clots frequently clog blood vessels.

The new round brings BridgePoint’s total fundraising over the last two months to $10 million.

In a brief phone interview, Mike Berman, a prominent medical device investor who sits on the startup’s board of directors, said BridgePoint will use the money to accelerate commercialization in the United States.

While its device, which received 510(k) clearance from the Food & Drug Administration, is available in some hospitals, the company wants to create formal sales and marketing teams to boost sales, Berman said.

BridgePoint also wants to expand overseas. Last year, European regulators approved BridgePoint’s Chronic Total Occlusion — or CTO — Crossing System comprised of the CrossBoss CTO Crossing Catheter and Stingray CTO Re-Entry System.

Investors include Foundation Medical Partners, Polaris Ventures and New Enterprise Associates.

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