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Claret Medical raises $3.6M through private offering

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Updated July 8, 2013, at 5:30 a.m. company updates. The funds were raised through a private offering of convertible promissory notes.

Claret Medical logo

California-based medical device maker Claret Medical has raised $3.6 million so far through a private offering, company officials confirmed with MassDevice.com.

Claret, which earlier this year won CE Mark approval in the European Union for its Montage Dual Filter embolic protection system, reported that 28 unnamed investors participated in the the private offering of promissory notes. The company aims to raise $4 million, according to an SEC document.

The financing was launched in July 2012, according to regulatory filings. Claret aims to raise another $375,000 before the financing round expires in August 2015.

Claret’s filter system is designed as a complement to transcatheter aortic valve implantation procedures, helping to capture "embolic debris" that is dislodged during a TAVI procedure.

In research published in May the device reportedly captured such debris traveling toward the brain in 75% of TAVI patients. The research team enrolled 40 patients undergoing TAVI, capturing "liberated" debris in 30 of them. The captured debris varied in size from 0.55 mm to 1.8 mm in size and consisted of fibrin that was most likely from the native aortic valve leaflets or the aortic wall, according to the study.

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