By Jennifer Chiou
New York, July 18 - TherOx Inc. said it completed $30 million in preferred equity financing, which was led by New Science Ventures.
The financing also included Aperture Venture Partners, Wasatch Advisors, Kleiner Perkins Caufield & Byers and Integral Capital Partners.
"TherOx's unique technology offers potentially a number of important therapies starting with a revolutionary way to treat heart attack patients," said Somu Subramaniam, managing partner of New Science Ventures LLC, in a news release.
"This round of financing will enable us to conduct the final phase of our acute MI (myocardial infarction) pivotal trial, submit our pre-market approval application to the FDA and scale up manufacturing," said Kevin T. Larkin, president and chief executive officer of TherOx, in the release.
The company has developed heart attack or acute myocardial infarction therapy that combines hospital-supplied oxygen and saline to create a highly oxygenated solution to reduce infarct size and improve heart function after surgery.
Based in Irvine, Calif., TherOx is a medical device company, which creates Aqueous Oxygen, or AO solution, which is infused into the blood stream to help restore oxygen to oxygen-deprived tissue.
| Issuer: | TherOx Inc.
|
| Issue: | Stock
|
| Amount: | $30 million
|
| Investors: | New Science Ventures (lead); Aperture Venture Partners, Wasatch Advisors, Kleiner Perkins Caufield & Byers, Integral Capital Partners
|
| Announcement date: | July 18
|
|
|
© 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.
