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St. Teresa Medical raising $2 million for blood-clotting bandage

11:25 pm by | 0 Comments

St. Teresa Medical has started raising $2 million, according to its filing with the Securities and Exchange Commission.

The Minnesota company is commercializing a blood-clotting bandage named FASTCLOT, a soluble hemostatic bandage made out of electro-spun dextron, salmon thrombin and fibrinogen.

St. Teresa Medical hopes to launch FASTCLOT into both military and civilian trauma and surgical markets. Animal testing conducted on swine has been favorable. A key next step will be obtaining FDA approval to market the product.

The company is in the process of preparing a 510(k) submission, according to the St. Teresa Medical Web site.

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The site also states the company eventually hopes to expand into additional markets, including consumer bandages.

St. Teresa Medical CEO Philip A. Messina declined to comment.

The blood-clotting product was jointly developed at the Virginia Commonwealth University and the Henry Jackson Foundation for the Advancement of Military Medicine.

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By Yael Grauer

Yael Grauer is an independent writer and editor who writes periodically for MedCity News.
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