By Thomas Lee
Denali Medical Inc., a Plymouth, Minn.-based medical device incubator, raised $4 million from investors, according to a filing with the Securities & Exchange Commission.
Not much is known about Denali, which is seeking $4.6 million from the sale of equity. Reached by phone, founder Thomas Hektner declined to offer more details.
But there are some clues. Hektner was co-founder of StarFire Medical, a manufacturer of implantable devices for neurovascular disease that was acquired 18 months ago by Nfocus Medical.
He has filed for several patents in recent years, including three applications for a special stent designed to repair the annulus and to speed healing and the growth of new tissue. Last December, Hektner sought a patent for an implantable device to treat glaucoma by shifting fluid from one area of the eye to the other.
Even more intriguing, the SEC document identifies the company as Denali Medical II Inc., suggesting Hektner has launched another incubator or fund. Denali II was founded this year.
The first Denali Medical was renamed Rotation Medical Inc. and raised at least $6 million, according to SEC filings.
Former Medtronic COO Michael DeMane, now with venture capital firm Thomas McNerney & Partners, serves on the board for both Rotation and Denali II. DeMane did not immediately return a message left on his cell phone.
