Atlanta Catheter Therapies has raised $2.98 million in Series A equity financing through a Chattanooga, TN-based investment consortium. ACT is an early stage R&D company with a portfolio of catheter technologies to treat vascular disease and restenosis.
The funding will help with the commercialization of the Occlusion perfusion catheter and the development of other technologies in the firm's pipeline, according to company CEO Paul Fitzpatrick. The funding came from ACT I Investments, a group of Chattanooga-based investors; the Chattanooga Renaissance Fund, a for-profit angel capital fund; the Maclellan Foundation and its affiliates; the Medical Device Development Group; and company principals.
ACT was founded in 2008 by interventional radiologist Rex Teeslink, medical device engineer Dirk Hoyns and the Medical Device Development Group, according to the company's website. It is focusing on improving patient care and lowering healthcare costs related to vascular disease and restenosis.
- see the ACT release