By Lisa Kerner
Erie, Pa., Feb. 22 - VeinRx, Inc. said it has closed its series B round of financing.
Proceeds will be used to continue VeinRx's clinical research program with the novel infusion catheter and to begin the commercial phase of the company.
New investor De Novo Ventures led the financing and was joined by existing venture capital investors Three Arch Partners and CHL Medical Partners.
The infusion catheter allows physicians to infuse an agent of their choice in a uniform and controlled way. VeinRx said the catheter incorporates a distal sealing balloon and the unique FloLock technology to ensure patency of the catheter delivery holes.
"We have been following the progress of VeinRx and its unique technology," David Mauney, managing director, De Novo Ventures, said in a company news release.
"We believe that the future prospects are bright and we are committed to seeing this superior technology commercialized."
Located in Miami, VeinRx is a private medical technology company focused on the research and development of state-of-the-art infusion technology.
| Issuer: | VeinRx
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| Issue: | Series B financing
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| Amount: | $15 million
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| Investors: | DeNovo Ventures (lead), Three Arch Partners, CHL Medical Partners
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| Announcement date: | Feb. 22
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