Compression device maker Wright Therapy Products has raised about $1.1 million of what the company hopes is a $2 million fundraise, according to a regulatory document.
The Pittsburgh-area company develops compression pumps and other accessories for patients suffering from poor circulation or swelling in their limbs. Wright Therapy also markets its pumps for the treatment of sports injuries that result in swelling.
Chief Technology Officer Carol Wright didn’t return a call.
Compression therapy can be used to treat venous ulcers and lymphedema, swelling in the limbs caused by a blockage in the lymphatic system. A compression pump inflates a sleeve that’s placed on a patient’s limb and the inflated sleeve moves lymphatic fluid away from the limbs and reduces swelling.
Wright Therapy’s latest funding was sourced from 13 investors, with the first sale happening in December 2010. As of May 2011, the company had raised $565,000 of the investment, according to an earlier regulatory filing.
Economic development group Pittsburgh Life Sciences Greenhouse had previously invested in Wright Therapy.
Wright Therapy got its start in the 1980s when Carol Wright’s father, Edward, created a compression pump for a child suffering from chronic lymphedema.
