By E. Janene Geiss
Philadelphia, Nov. 8 - FlowMedica, Inc. said it raised $15 million in a series D financing round.
De Novo Ventures and Palo Alto Investors were the lead investors. Other investors included ABN AMRO Capital, Medica Venture Partners and Oxford Bioscience Partners.
The financing will help accelerate the commercialization of FlowMedica's catheter-based systems to apply targeted renal therapy to prevent and treat kidney dysfunction that results from certain interventional or surgical procedures and diseases. Financing will also help advance market development for the company's three product lines - the Benephit CV Infusion System, the Benephit PV Infusion System and the Benephit HF Infusion System, according to a company news release.
"We believe FlowMedica's innovative approach towards 'targeted' renal therapy will further the development and expansion of significant new market opportunities related to kidney dysfunction. We are pleased to be part of this promising company's future," David M. Mauney, managing director of De Novo Ventures in Menlo Park, Calif., said in the release.
FlowMedica is a venture-backed, privately held commercial-stage medical device company based in Fremont, Calif.
| Issuer: | FlowMedica, Inc.
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| Issue: | Series D financing
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| Amount: | $15 million
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| Investors: | De Novo Ventures, Palo Alto Investors (leads), ABN AMRO Capital, Medica Venture Partners, Oxford Bioscience Partners
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| Announcement date: | Nov. 8
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