Innovative Trauma Care raised $3.6 million in a Series A financing round in support of commercialization of the company’s 1st product, a device used to treat massive hemorrhaging.
The company’s It ClampTM hemorrhage control system creates a temporary pool of blood under pressure that forms a stable clot until a wound is surgically repaired, capable of controlling bleeding in as little as 5 seconds, according to the press release.
"The confidence that our investors have placed in our first product is inspiring, and proof that the concept offers an intriguing solution to an unsolved issue in medicine," board chairman Phil Faris said in prepared remarks.
The Edmonton, Canada-based company was founded in 2010 and has its U.S. headquarters in San Antonio, Texas. The company received a license for sale from Health Canada in September.
The company expects to receive CE Mark approval in the European Union in late 2012 and land FDA clearance in 2013 for its flagship hemorrhage control system.