Kona Medical has raised additional $10m in equity and debt financing round to bring its total proceeds to $40m.
The funding round, in addition to its prior investors Essex Woodlands, Domain Associates, Morgenthaler Ventures, Western Technology Investments, and BioStar Ventures, included two large-cap strategic investors.
Silicon Valley Bank provided the debt facility, according to the company.
The company will use the finance to further develop its non-invasive renal nerve ablation system, Kona Surround Sound system, designed to drug-resistant hypertension.
Using the company's external Surround Sound technology, the system delivers ultrasound from outside the body, to treat the nerves leading to and from the kidney.
Source:
http://cardiovasculardevices.medicaldevices-business-review.com/news/kona-medical-raises-10m-to-close-series-c-financing-051212
