Advanced Catheter Therapies, Inc., a Chattanooga, TN-based research and development medical device company, raised $3m in Series B equity financing.
The backers were not disclosed.
Led by Paul J. Fitzpatrick, CEO, Advanced Catheter Therapies has a portfolio of innovative catheter technologies initially targeting vascular disease including thrombosis, inflammation, occlusions and restenosis.
The funds will be used for further development of medical devices in ACT’s product pipeline with a focus on moving the patented Occlusion Perfusion Catheter™ (OPC), an intravascular agent delivery device, to sale or out-licensing. ACT has filed for 510(k) approval from the FDA for the OPC.