Devices & Diagnostics

Interrad Medical seeks $10 million

Interrad Medical Inc., a Plymouth, Minnesota-based medical device company, is aiming to raise $10 million, […]

Interrad Medical Inc., a Plymouth, Minnesota-based medical device company, is aiming to raise $10 million, according to a filing with the U.S. Securities and Exchange Commission. The company, which makes a device to secure catheters, has already raised $1.64 million.

Last year, the company was looking to raise $6 million and was able to raise nearly $2 million, according to the filing. Whereas last year, Interrad Medical described itself as a biotech company, this year’s filing notes that it falls under “other healthcare.”

Interrad’s SecurAcath Universal Subcutaneous Catheter Securement System won regulatory approval through a 510(k) in July. The company was founded by Dr. Michael Rosenberg, an interventional radiologist in St. Paul, Minnesota, who is currently the chairman of the board.

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