By Jennifer Chiou
New York, Oct. 12 - Radiant Medical, Inc. announced it raised $36 million in an oversubscribed round of financing.
Bay City Capital led investors, which included VantagePoint Venture Partners; Three Arch Partners; Sprout Group; InterWest Partners; MedVenture Associates; Highland Capital Partners; Alta Partners; and Weiss, Peck and Greer Venture Partners.
"We are extremely pleased with the support and confidence our investors have expressed in the company's management, technology and business strategy," Kenneth G. Hayes, Jr., president and chief executive officer, said in a news release.
"It is rewarding to have investors of this high caliber see the opportunity for endovascular therapeutic cooling and the value it may bring to patients."
Based in Redwood City, Calif., Radiant Medical, Inc. is a medical technology company focused on the research and development of endovascular temperature therapy systems.
Proceeds will be used to advance its clinical research program with a proprietary device-based treatment intended to reduce heart damage during an acute myocardial infarction and reduce the incidence of acute kidney failure following routine coronary or peripheral catheterization procedures. The company's new Reprieve Endovascular Temperature Therapy System cools the body during and after a heart attack to help preserve the heart muscle cells and microvascular blood flow, to improve long-term heart function and patient outcome.
| Issuer: | Radiant Medical, Inc.
|
| Issue: | Stock
|
| Amount: | $36 million
|
| Investors: | Bay City Capital (lead); VantagePoint Venture Partners; Three Arch Partners; Sprout Group; InterWest Partners; MedVenture Associates; Highland Capital Partners; Alta Partners; Weiss, Peck and Greer Venture Partners
|
| Announcement date: | Oct. 12
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
