BridgePoint Medical Inc. has raised $9.1 million from the sale of equity, according to documents filed with the Securities and Exchange Commission.
The company based in Plymouth, Minnesota, is developing balloon catheter system to treat chronic coronary and peripheral total occlusions, a condition in which clots frequently clog blood vessels. BridgePoint has raised over $10 million in less than two months.
In a brief phone interview, Mike Berman, a prominent local medical device investor who sits on the startup’s board of directors, said BridgePoint will use the money to accelerate commercialization in the United States.
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While its device, which received 510(k) approval from the Food and Drug Administration, is available in some hospitals, the company wants to create formal sales and marketing teams to boost sales, Berman said.
BridgePoint also wants to expand overseas. Last year, European regulators approved BridgePoint’s Chronic Total Occlusion (CTO) Crossing System comprised of the CrossBoss CTO Crossing Catheter and the Stingray CTO Re-Entry System.
Investors include Foundation Medical Partners, Polaris Ventures and New Enterprise Associates.
