SurgRx, a Redwood City, Calif. maker of technology that uses heat and electric current to seal human tissue for medical purposes, has raised $20 million in fifth round of financing, VentureWire is reporting (sub required).
Hedge fund Magnetar Capital led the round, which included backers Alta Partners, Prospect Venture Partners, New Enterprise Associates and California Technology Ventures, the report said, citing Ed Unkart, the company’s chief financial officer.
The technology is used as part of a “jaw” device that helps seal vessels ranging in diameter from less than 1 mm to 7 mm, during laparoscopic and open surgery.
There’s a YouTube video (caution: somewhat bloody) demonstrating the technology below:
SurgRx is going up against big players such as Johnson & Johnson Inc. and Tyco International Ltd, in market that includes things like gynecologic, transplant and general surgical procedures — measured by some to be worth more $4 billion.
SurgRx previously raised about $43 million.