Early stage medical device company Phraxis has raised approximately $5.6 million in a new round of equity and options financing, according to a recently posted SEC filing.
Phraxis is developing a novel treatment for patients who need vascular access for hemodialysis, according to the company’s website.
The St. Paul, Minn.-based company’s first product for commercialization is the InterGraft, a percutaneously delivered arteriovenous shunt intended to provide a unique, non-surgical approach for patients who need vascular access, according to the site.
Money in the round came from seven unnamed investors, with the first sale in the offering noted as having occurred on February 8, according to the filing.
Phraxis is looking to raise an additional $1.4 million in the round, according to the SEC filing, which would bring the total raised in the round to approximately $7 million.
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