Five medical device makers based in New England together raised more than $2.5 million in debt and equity sales, according to filings with the Securities and Exchange Commission.
BioBehavioral Diagnostics Co., Cardiosolutions Inc., Echo Therapeutics Inc., Eleme Medical Inc. and Myomo Inc. all sold debt or equity for an average net return of about $500,000 last month:
- BioBehavioral Diagnostics, which is developing tools to assist clinicians in diagnosing attention deficit hyperactivity disorder, raised $500,000 in a debt sale, according to a Dec. 4 filing. Westford, Mass.-based BioBehavioral Dx drummed up $2.5 million in June 2009 through another debt sale.
- Cardiosolutions Inc., which is working on a minimally invasive treatment for mitral valve regurgitation, netted $295,000 with its debt sale. The Stoughton, Mass.-based company listed its total offering as $3 million, according to the Dec. 11 filing.
- Echo Therapeutics Inc. (OTC:ECTE) netted $518,000 from a group of Philadelphia investors, according to its Dec. 7 filing listing an equity sale. Franklin, Mass.-based Echo, which had drummed up $3 million in November 2009, will use the bulk of the funds for Food & Drug Administration registration, product development and manufacturing for its wireless blood glucose monitor.
- Merrimack, N.H.-based Eleme Medical Inc. managed to put $600,000 toward its target of $3 million in a debt sale, according to a Dec. 30 filing. Eleme makes a cosmetic, non-invasive laser-based cellulite treatment.
- And Boston-based Myomo Inc. raised $616,765 in an equity sale, according to this Dec. 18 filing.
Myomo makes a prosthetic device designed to help victims of stroke and other neurological conditions regain the use of their arms.