Interrad Medical last week reported raising another $5 million for its SecuraCath device, saying it hopes to raise $2 million more.
SecurAcath is designed with small insertable anchors at the point of catheter entry to keep catheters from moving or coming loose in patients. The attachment device eliminates the need to suture or adhesively attach catheters. The device won 510(k) clearance from the FDA in 2010.
The most recent debt funding, revealed in an Oct. 26 filing with the U.S. Securities & Exchange Commission, adds to the $10 million Series C round the Plymouth, Minn.-based company raised in 2011. Another $7.5 million raise followed in 2014.
In 2015 the company landed a Federal Supply Schedule contract with U.S. Veterans Affairs Dept. and Defense Dept. hospitals for SecurAcath.