By Lisa Kerner
Erie, Pa., March 8 - Atritech, Inc. said it has completed a $22.5 million round of venture capital financing, the largest venture capital raise in the Minnesota medical device industry in the last 20 months.
Prism Venture Partners led the round. Also participating with substantial commitments were existing investors and Tullis-Dickerson, along with a new investor.
Proceeds will be used by the company to complete enrollment in the Protect AF clinical trial, evaluating the Watchman device versus the current standard of care, warfarin, in patients with atrial fibrillation. Atritech's Watchman device is designed to keep harmful-sized blood clots from entering a patient's blood stream, potentially causing a stroke, according to a company news release.
Atritech is privately held company based in Plymouth, Minn.
| Issuer: | Atritech, Inc.
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| Issue: | Venture capital
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| Amount: | $22.5 million
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| Investors: | Prism Venture Partners (lead), Tullis-Dickerson, existing investors, one new investor
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| Announcement date: | March 8
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