UPDATED Oct. 27, 2015, with comment from Blockade Medical.
Blockade Medical pulled in $2.2 million and is looking for another $5.8 million in a new round of equity financing, according to an SEC filing published today.
The round was joined by new investors TitanMed Capital and GP Healthcare Capital, as well as returning investors and other venture capital and private equity funds in the healthcare sector, Blockade Medical said.
Funds from the round will support commercialization efforts for the Barricade coil system, as well as the development of novel neurovascular devices to treat aneurysms, stroke and other conditions, the company said.
“Securing this funding demonstrates the confidence from our existing and new investors in our ability to bring new and differentiated technologies to market. We are very proud of the high double digit growth we have experienced year over year and the significant products we have delivered to the global marketplace with the limited private financing up to this time. We are now embarking on a new chapter at Blockade Medical where the next generation of products will be highly differentiated and potentially therapy shifting technologies,” prez & CTO Dave Ferrera said in a press release.
Blockade announced it also formed a joint venture for manufacturing of devices for the Chinese marketplace, according to the press release.
Irvine, Calif.-based Blockade Medical is developing catheter based therapeutic devices for treating cerebral aneurysms, according to the company’s site.
The company’s flagship device is the Barricade embolization coil system designed to occlue blood flow in vascular abnormalities of the neurovascular and peripheral vessels.
The device is a bare platinum coil line available in framing, filling and finishing shapes, and has both CE Mark approval and FDA 510(k) clearance.