Bi02 Medical, maker of the Angel vena cava filter catheter, said it raised nearly $5.9 million in a hoped-for $7.5 million equity offering.
The funding round for the San Antonio, Texas-based medical device company involved 10 unnamed investors, according to a regulatory filing.
Investors put $1 million into an angel round in 2007, according to Bi02’s website. A year later, the Texas Emerging Technology Fund put in another $1 million; in the fall of 2009 a venture capitol shop called the Targeted Technology Fund put $500,000 into Bi02. A Series B round brought in $7.5 million in May 2010, followed by $12 million in C-round funding in September 2012.
The Angel catheter combines a central venous catheter and an inferior vena cava filter. Named for inventor and chief medical officer Dr. Luis Angel, the device is designed to trap and remove blood clots that could lead to pulmonary embolism, according to the site.
Last year the company won approval from the FDA for an investigational device exemption pilot trial of the Angel catheter. The 10-patient safety trial aims to measure the adverse event rate in critically ill patients at risk for pulmonary embolism and is slated to be complete in June, according to clinicaltrials.gov.
