Thursday, October 21, 2010

Minnow Medical Gets $4.7M

Laguna Hills-based Minnow Medical, a developer of treatments for peripheral vascular disease therapy, said said Wednesday that it has raised $4.7M in a combination of equity and convertible debt. According to the firm, it sold $3.2M in preferred stock, and $1.5M in convertible notes. The investment was led by Neomed Management, and also included Christopher Weil & Company, Minnow's Chairman, Olav Bergheim, and other undisclosed private investors. Minnow Medical said it is developing a technology which uses radiofrequency thermoplasty to treat in-stent restenosis and other peripheral vascular conditions. The firm said the funding goes towards its European clinical trials, to pay off bank debt, and for working capital. More information »

---