HomeUSAOctet Medical Closes $10M Series B Financing

Octet Medical Closes $10M Series B Financing

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octet medical

Octet Medical, a San Diego, CA-based private medical device company, raised $10M in Series B funding.

The round, which brought the total amount to $16.8M, saw participation from undisclosed investors.

The company intends to use the funds to advance the development of the Octet Medical Electrostatic Applicator (OMEA) for use in clinical trial programs.

Led by CEO Bud Brainerd, and Founder and Chairman of the Board Cliff Wright, Octet Medical is a medical device company focusing on developing electrostatic technology to enhance the application and treatment of topical conditions. OMEA, the company’s leading asset, uses a proprietary design to electrostatically charge reagents, enabling the particles to fully disperse into the contours of a target tissue and adhere to the desired area.

The OMEA sprayer is designed around the principles of electrostatics, transforming a sprayed fluid into charged particles that uniformly coats and adheres to the targeted surface tissue.

The company is doing research around cartridges specific to antiseptic/analgesics, cartridges containing biologics, such as stem cells, as well as polymer-containing cartridges for electrospinning to cover wounds.

FinSMEs

16/07/2023