BiO2 Medical, Inc., a San Antonio, Texas-and Golden, CO-based a medical device manufacturer, raised approximately $14m in equity and debt financing.
The financing included a $9m Series D funding round from unnamed backers and a $5m venture debt financing from Oxford Finance LLC (This transaction is structured to initially provide $5 million upon closing, with an option for an additional $3m to be provided upon FDA 510(k) clearance of the Angel® Catheter).
The company intends to use the funds for the US product launch, the expansion of the US and OUS sales force, incremental R&D projects, and general infrastructure development.
Led by Chairman and Chief Executive Officer Christopher E. Banas, BiO2 Medical is a medical device manufacturer focused on the Angel® Catheter, a mechanical pulmonary embolism protection device with a prophylactic indication whose clinical trials were successfully completed. The catheter provides bedside venous access without the need of fluoroscopy through its design as a femoral approach central venous catheter (CVC) and immediate pulmonary embolism protection via a permanently attached, 100% retrievable Inferior Vena Cava (IVC) filter.