WaveRx, a Waltham, Mass.-based medical device maker operating in stealth mode, pulled in $500,000 in an equity offering, according to a regulatory filing.
The details of the company’s technology, designed to treat nail and skin disorders, are cloaked in secrecy. The company, founded in 2004 as ID Wave Systems, changed its name in October 2005. According to the National Institutes of Health, WaveRx has a clinical trial under way that began in September 2009, but the details of the study are not publicly available.
WaveRx’s website says it is "a privately-held company focused on creating
fast and non-invasive treatments for dermatological disorders." One of its venture capital backers, Polaris Venture Partners, cites it as "a medical device company developing a novel technology for dermatological disorders of the nail and skin."
The most recent fundraising round adds on to the nearly $6.8 million WaveRx netted from a Series A round in January 2009, according to a filing (PDF) with the federal Securities & Exchange Commission. That filing lists Polaris, 5 AM Ventures and Three Arch Partners as investors.
President and CEO Marc Gibeley didn’t immediately return a call seeking comment.