Renovo Concepts Raises $6.4M Series A Funding for Traumatic Brain Injury Device
The San Antonio medical device company Renovo Concepts announced the completion of its $6.4 million Series A preferred stock fundraising round Thursday. Renovo is developing a way to reduce the damage caused by inflammation setting in after severe traumatic injuries to the brain (TBI) with its Mechanical Tissue Resuscitation (MTR) device.The round was oversubscribed, as the company raised approximately $6.4 million in new money on a stated $6 million offering. Proceeds from this funding round are being used primarily to fund product development, initial manufacturing, and safety human clinical trials. The funds will enable Renovo to get its device through the testing evaluations required by the U.S. Food and Drug Administration. After that point, Renovo will then pursue clinical trial...
