Interrad Medical Inc. has raised $1.9 million from the sale of equity, according to documents filed with the Securities and Exchange Commission.
Overall, the company, based in Plymouth, Minnesota is seeking $6 million.
Last July, the Food and Drug Administration approved Interrad’s SecurAcath Universal Subcutaneous Catheter Securement System, which allows doctors to secure catheters in the tissue just below the skin without using sutures or adhesive devices. By firmly holding a catheter in place, the technology can reduce catheter-related infections, the company says.
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In addition to founder Dr. Michael Rosenberg, Interrad’s board of directors includes Stanley Hubbard, chairman and CEO of Hubbard Broadcasting Corp., a major Minnesota-based media company whose holdings include KSTP Channel 5 and KS95 radio station in the Twin Cities.
