Clear Catheter Systems Closes $4m First Funding Round
Clear Catheter Systems, Inc., a Bend, Oregon-based developer of medical devices used in post surgical recovery, has closed its $4m first institutional round of financing.
The round was co-led by Aphelion Capital and California Technology Ventures, with participation from Research Corporation Technologies.
In conjunction with the funding, Ned Scheetz, of Aphelion Capital and Alex Suh, of California Technology Ventures, will join the company’s board of directors.
Clear Catheter Systems intends to use the capital to expand its commercialization efforts in the United States and abroad for its lead product, the PleuraFlow® Active Tube Clearance® System, which addresses the problem of chest tube clogging after heart and lung surgery.
Led by CEO Ed Boyle, the company also has a pipeline of products based on its proprietary tube clearance technology to treat tube clogging in other medical market segments, including a system for the urinary catheter drainage market, the enteral feeding sector as well as systems for standard surgical drains.