Chestnut 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.