Crux Biomedical has raised $8 million in second-round funding to cover its debt and finalize clinical trials on its device used to remove blood clots and air bubbles from the bloodstream. The Menlo Park, Calif. firm initiated testing in 2006 in Paraguay and implanted its first filter in the U.S. in October 2007. If used correctly, the device could prevent life-threatening pulmonary embolisms, the company says.
The recent funding came from Alloy Ventures and private investor Thomas Fogarty, who has a history of backing medical device makers. It should be enough to pay off Crux's debt, totaling about $1.2 million. The company raised a first round of $3.85 million in 2006.