San Antonio-based BiO2 Medical announced it has raised $13.7 million.
The medical device maker also converted a $1 million State of Texas Emerging Technology Fund investment in its latest founding round.
San Antonio’s Targeted Technology Fund and BiO2 Medical’s investment bankers Pasadera Capital led the investment.
The financing gives the company the ability to complete design testing of its catheter and launch a human clinical study in Colombia.
“This Series B funding has been instrumental to the recent successes of BiO2 Medical, and specifically the Angel Catheter program,” Christopher E. Banas, BiO2’s chairman and CEO, said in a news statement.
“BiO2 Medical’s Angel Catheter, named after its inventor and BiO2 Medical’s Chief Medical Officer, Dr. Luis F. Angel, is a central venous catheter and Inferior Vena Cava filter combination device, intended to protect against potentially fatal Pulmonary Embolism in critically ill patients,” according to the company.