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Vessel-clog remover Chestnut pulls in $7.8M

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chestnut-medical-logo.gifChestnut Medical Technologies, a Menlo Park, Calif., medical-device maker, raised $7.8 million against an anticipated $10 million third funding round, I’ve learned. An SEC document (PDF link) the company filed with the California Department of Corporations disclosed the funding.

Chestnut makes a device best described as a medical version of a plumber’s snake. Its Alligator retrieval device, which the FDA approved in 2005, is designed to remove “foreign bodies” such as blood clots from vessels in the body and brain via a clamp that’s inserted via catheter into a patient’s circulatory system. The company offers a flash demo of the device.

Investors in the round so far include Veron International of Hong Kong, ITX International Equity, Japan Asia Investment of Tokyo and individual investors.


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