Mercator MedSystems said last week that it added more than $3 million to the $11 million Series D it pulled in last year.*
The California-based company is developing catheter-guided micro-infusion systems for non-systemic delivery of therapeutic agents across blood vessels as a treatment for peripheral artery disease. In June of last year, Mercator MedSystems raised $11m in a Series D equity round led by Shenzhen Salubris Pharmaceuticals. The company added some $3.2 million to that, according to a June 13 regulatory filing, taking the total raised to $14.3 million.
Mercator MedSystems’ FDA-approved Bullfrog device uses a balloon to hydraulically deploy a micro-needle through the blood vessel wall,where the needle can deliver therapeutic drugs. Physicians can track the drug-delivery process using x-ray imaging, according to the company.
* Due to an editor’s error, this article originally reported that Mercator raised an additional $14 million. ↩
