Seattle-based Magnolia Medical Technologies brought in $1.4 million in a new round of debt financing and looks to bring in another $1.6 million before closing the round, according to an SEC filing posted last week.
Magnolia produces the SteriPath vacuum-assisted blood collection system designed to divert and sequester contaminants from the initial blood sample specimen, according to the company’s website.
The SteriPath unit comes in 3 different configurations and is compatible with standard blood collection tubes and culture bottles made by Becton Dickinson & Co. (NYSE:BDX) and bioMerieux, according to Magnolia’s website. The systems are sealed in a single-use package which serves as a portable sterile field during blood culturing procedures.
The system operates through standard venipuncture, after which the initial specimen of blood is sequestered. After the device is fully actuated, blood culture bottles can be inserted into the transfer adapter to collect samples, according to the company’s site.
The company has not yet said how it plans to use the funds from the round, which came from 6 anonymous investors, according to an SEC filing.