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Funding: Domain Surgical raises $11.6M for cutting tool

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Funding: Domain Surgical raises $11.6M for cutting tool

Medtech maker Domain Surgical closed an equity funding round with $11.6 million raised from 10 investors, SEC filings show.

The Utah company offered few details on the funding round, but noted that the sum total was inclusive of cash received and debt converted to equity. The funding round was launched on February 28, 2014, and listed closed as of March 5.

The raise marks the 2nd multi-million round for Domain Surgical this month, with a $35 million financing round announced last week. Investors included an unnamed "strategic leader in global medical technology" and the OrbiMed healthcare investment fund, according to a press statement.

Domain Surgical is developing a surgical platform to facilitate precise cutting and coagulation of soft tissue. The device targets soft tissue without penetrating deeper to pass electrical energy to the patient. The company in January won 510(k) clearance for its FMwand ferromagnetic surgical system with a reusable power module and next-generation surgical handpiece.

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