Stealthy Provisio Medical adds $2m

August 23, 2019 By Brad Perriello Leave a Comment

Stealthy endovascular device developer Provisio Medical added more than $2 million to its coffers in a new equity round, according to a regulatory filing.

San Diego-based Provisio is tight-mouthed about its technology, apart from revealing its focus on endovascular therapy on its single-page website. The equity and preferred stock offering brought in $2.3 million of a hoped for $3 million, according to the filing.

The company pulled down a $4 million round back in January 2018.

The company is headed by former Volcano clinical & medical affairs VP Steven Ryan, according to the filing with the U.S. Securities & Exchange Commission. Prior to his time with Volcano, Ryan was founder & president of CorNova and served as acting medical director for AxSun Technologies, according to LinkedIn.

The first sale in the latest offering was logged August 19, according to the filing, with 16 anonymous investors involved. A total of $350,000 from the fundraising has been earmarked for executive salaries, according to the filing.

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