Company name: Bi02 Medical Inc.
Industry: medical devices.
Location: San Antonio, Texas.
Solution/product: The Angel Catheter is a “central venous catheter and inferior vena cava (IVC) filter combination device” that is designed to prevent pulmonary embolism in critically ill patients.
Money raised: $12 million in series C financing.
How it will be used: to commercialize the Angel Catheter.
Investors: Remeditex Ventures,Incyte Ventures Targeted Technology Fund.
Management team: Christopher Banas, chairman and CEO; Luis Angel, chief medical officer; Paul Castella, chief financial officer.
Market: Currently the market for retrievable IVC filters like the Angel Catheter is about $250 million and growing at 11 percent annually, according to the company. There are several players in the space includingPeripheral Vascular, Cordis Corporation (a division of Johnson & Johnson), Boston Scientific Corporation and Cook Medical. A 2007 study found that more than half of all diagnosed cases of pulmonary embolism occurs in patients who are in hospitals or nursing homes.
[Photo Credit: freedigitalphotos user Salvatore Vuono]
By Arundhati Parmar
Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.More posts by Author
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