Fink Densford | March 30, 2018
Alleviant Medical has raised $1.1 million in a new round of debt and options financing, according to an SEC filing posted this week.
Money in the round came from 15 unnamed sources, according to the SEC filing, with the first sale recorded on December 19 last year.
The company has closed the round early, and is not seeking an additional $400,000 before closing it, according to CEO Dr. Jacob Kriegel. Alleviant Medical has not yet stated how it plans to spend funds raised in the round.
Alleviant Medical is developing a minimally invasive device designed to treat congestive heart failure.
The company’s device is designed to relieve pressure within the left atrium, according to its website, using an inter arterial shunt between the left and right atrium. The shunt is intended to allow pressure to offload from the left atrium into the lower pressure right atrium.