Pulsar Vascular, which makes the PulseRider device for treating brain aneurysms, said it raised nearly $9.5 million from 39 unnamed investors.
The 1st sale in the equity, debt and options round happened July 27, San Jose, Calif.-based Pulsar Vascular said in a regulatory filing.
The PulseRider device is designed to shore up the blood vessels around wide-necked aneurysms at or near a bifurcation of the basilar tip or carotid terminus and facilitate the implantation of an embolization coil, without obstructing blood flow through the vessels, according to the company’s website.
The device, which won CE Mark approval in the European Union in 2013, is distributed in Europe, the Middle East and Africa by Johnson & Johnson (NYSE:JNJ) subsidiary Codman Neuro.
In June 2014 Pulsar won an investigational device exemption from the FDA for a U.S. clinical trial of the PulseRider device.