Torax Medical, based in Shoreview, Minnesota, has raised $4 million by issuing debt and is seeking another $4 million in funding, according to a recent regulatory filing.
It appears that the company, which is focused on the minimally invasive treatment of gastroesophageal reflux disease, raised $18 million in 2009, $10 million in 2005 and another $3.5 million in 2004. All three previous financing rounds were in exchange for equity.
Previous investors in the company include Thomas McNerney & Partners, Sanderling Ventures, Mayo Medical Ventures and Accuitive Medical Ventures. Torax Medical has applied for a premarket approval for its Linx Anti-Reflux Treatment, which is approved in Europe and has been available there since April 2010. The Linx device is designed to strengthen an abnormal sphincter — the muscle that is supposed to bar stomach acids from escaping into the esophagus — and restore it to its proper function.
The company’s vice president of finance was traveling and Todd Berg, Torax’s co-founder, president and CEO, did not respond to an email request for an interview.
