Vascular disease treatment device developer Vascular Architects has closed a $6.6 million private placement of its series E preferred stock.
All existing institutional investors participated in the financing round, according to the San Jose, CA-based firm. Vascular Architects also closed a $5 million debt line with Western Technology Investment.
In other company news, Allan May has joined the company as CEO and chairman. May comes to Vascular Architects with experience as both an investor and corporate leader in the medical device industry, including stints as chairman and CEO of six firms.
The firm also indicated that it has shifted its near-term focus to enhancing its line of remote endarterectomy products, along with delivering the next generation of its aSpire covered stent.
By AuntMinnie.com staff writers
September 2, 2004
Copyright © 2004 AuntMinnie.com
