Medical device company Vascular Dynamics has raised $10.4 million in financing, which will help research and development of a product to treat hypertension.
The Mountain View, California-based company, which specializes in catheter-delivered treatment technologies for hypertension and heart failure, announced the news in a March 27 press release.
The Series C funding will contribute to research for its investigational MobiusHD system, which has already been accepted by the U.S. Food and Drug Administration (FDA) for a feasibility study. It’s also been accepted in the FDA’s Expedited Access PMA program that can shorten time to approval for marketing.
“We continue to be gratified in the confidence our current investor group shows in Vascular Dynamics,” said Robert Stern, president and CEO of Vascular Dynamics, in a statement. “The MobiusHD device has provided encouraging data in our European and American trials, and the response that the regulatory agencies have given the company to date reflect what we have believed all along, which is that the MobiusHD system has the potential to save millions of lives threatened by a condition that has no symptoms, but results in millions of deaths each year. This financing is continued demonstration of that confidence in our technology and a tribute to those who have worked so hard toward bringing it to fruition.”