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Print Edition StoriesThursday, October 29, 2009
CorNova lands $2.5M in financing
By Mass High Tech staff
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Burlington-based endovascular medical device firm CorNova Inc. has pulled in $2.5 million of a planned $6 million equity financing, according to a regulatory filing.
The company develops a set of balloon catheters designed to help eliminate cases of stent restenosis, or thrombosis, by helping with stent selection and optimizing the process of implanting the stent, explained Eric Ryan, the company CEO, in an earlier Mass High Tech report. Its FiberHalo catheters carry a hair-thin fiber wire that provides blood vessel measurement from inside the balloon itself to assist in stent procedures, without a corresponding increase in time, risk or cost. It uses fiber optics to make measurements that allow physicians to tell if a stent is adequately deployed.
Founded in 2003, CorNova grew its workforce in February to 25 employees, including a new chief financial officer and new senior scientist this year.
Officials from CorNova were not available for comment.
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