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Print Edition StoriesFriday, November 20, 2009
Corindus raises $4.7M in equity funds
By Mass High Tech staff
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Vascular robotic systems developer Corindus Inc. has pulled in $4.68 million of a planned $10 million equity financing. The funds were listed in a U.S. Securities and Exchange Commission filing.
Natick-based Corindus designs, develops and markets remote control systems for cardiology operations. Its main product, the CorPath system, is intended to allow physicians to control the movements of catheters through arteries during angioplasties with a joystick at a workstation just outside of the operating room, according to the firm.
"It's an incomplete picture of what we're doing," said company president and CEO David Handler, referring to the filing. He would not expand at this point on Corindus' plans for the funding.
In April 2008, Corindus raised $12.8 million in a Series B round of private equity.
Corindus, founded in Israel as NaviCath in 2002, says it spun off from the Technion Entrepreneurial Incubator Co. Ltd. in Haifa. The firm moved its headquarters to the Boston area in 2005.
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