Plymouth, Minnesota-based medical device company Interrad Medical Inc. has raised $10 million to commercialize its non-adhesive, suture-less catheter securing device.
The Series C funding was raised exclusively from angel investors through RBC Wealth Management Group in collaboration with RBC Capital Markets, the company announced today.
Interrad Medical hopes to continue to develop and commercialize the SecurAcath Universal Subcutaneous Catheter Securement System, which allows doctors to secure catheters to subcutaneous tissue just beneath the skin. The catheters are firmly held in place without sutures or adhesives, which may cut costs and time associated with securing, cleaning and removing catheters while also reducing catheter-related infections.
The system received 510(k) clearance from the FDA in July 2010.
Over 500 million vascular access catheters are placed worldwide each year.