Interrad Medical, Inc., Plymouth, MN-based medical device company, raised $7.5m in equity funding.
The round was led by Arthurian, a General Partner of the Wales Life Sciences Investment Fund. Additional funding was raised through a private placement by RBC Wealth Management Group in collaboration with RBC Capital Markets in the U.S., and Lesmoir-Gordon, Boyle and Co., placement agent in Europe.
The company intends to use the funds to establish a European headquarters in the Life Sciences Hub Cardiff, Wales, U.K., and expand global sales of the SecurAcath device.
Founded by practicing Interventional Radiologist and Interrad Medical Chairman and Chief Medical Officer, Michael Rosenberg, M.D. and led by Joe Goldberger, President and CEO, Interrad is a developer, manufacturer and marketer of medical devices, designed for minimally-invasive interventional and surgical procedures.
Its first product is the SecurAcath Subcutaneous Catheter Securement System, which provides improved catheter stability, allows for improved catheter site cleaning and minimizes catheter movement which may reduce infections.
FinSMEs
02/12/2014