Stealthy endovascular device developer Provisio Medical has raised $4 million in a new round of Series B preferred stock, according to an SEC filing posted this week.
Provisio has not released any information on its developments outside its focus on endovascular therapy, which it displays on its website.
The company is headed by former Volcano Corp clinical and medical affairs VP Steven Ryan, according to the SEC filing. Prior to his time with Volcano, Ryan was founder & president for CorNova, and served as acting medical director for AxSun Technologies, according to LinkedIn.
The San Diego, Calif.-based company is looking to raise an additional $1 million to bring the total raised up to $5 million, according to the SEC filing.
The first sale in the offering was noted on December 19, according to the filing, with 27 anonymous investors involved in the round.
A total of $450,000 from the fundraising has been earmarked for executive officer salaries, including patent assignment bonuses, according to the SEC filing.