Stealthy medtech startup Efemoral Medical has raised $1 million in a new round of equity financing, according to a recently posted SEC filing.
TheLos Altos, Calif.-based company is reportedly focused n the vascular health market, and is “developing devices that restore flow in blood vessels without using potentially harmful permanent implants or resorting to limb amputation,” according to startup site Gust.com.
Femoral Medical has a single patent for a “multi-element bioresorbable intravascular stent,” according to Justia.com. The stent is intended to be used to maintain or enhance the patency of a blood vessel, and can be used in peripheral vessels which are long and/or tortuous, according to the site.
The stent features “multiple, separate stent elements that are balloon expandable,” which reportedly makes the stent stronger and more flexible than standard stents, according to Justia.com.
Money in the round came from 20 unnamed investors with the first sale noted on November 8, according to the filing. Femoral Medical is looking to raise an additional approximate $1 million to bring the total raised up to $2 million.
The company has not yet made any announcements related to the offering.