Skin closure device maker KitoTech Medical has raised approximately $1.9 million in a new round of debt and options financing, according to a recently posted SEC filing.
The Seattle-based company has developed the MicroMend skin closure device, designed as an alternative to sutures, surgical glue and adhesives trips, according to the company’s website.
The MicroMend strips feature 1 mm micro staples embedded in an adhesive strip to anchor to the skin and close a variety of incisions and lacerations. The system comes in either a butterfly bandage or straight edge bandage, according to the site.
A total of 69 anonymous investors took part in the round, with the first sale dated on December 15, 2017.
The company is looking to raise an additional $1.1 million before it closes the offering, which would bring the total raised up to $3 million, according to the filing.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.