Hemosphere develops the HeRo, a subcutaneous tube-and-graft implant designed to provide arterial access for hemodialysis patients who are dependent on central-venous catheters. The HeRo received FDA 510(k) clearance in May 2008 and the company recently marked its 1,000th patient implant. The company has about 25 employees and doubled headcount over the past two years. Management says sales are on track to more than double from the prior year to $6 million in 2010. Planned uses of new funding include expanding the sales team, market-development initiatives, and post-market clinical studies to further document HeRo’s efficacy. Leadership expects the financing could be the last required round before profitability and notes the company is a likely acquisition target for larger device firms.

Total raised

$9M

Funding rounds

1

Latest round

Series A

Latest activity

Apr 2010