BiO2 snaps up $13.7M in Series B

BiO2 Medical has raised a $13.7 million Series B round of funding led by San Antonio's Targeted Technology Fund and Pasadera Capital. The company, which was founded in 2006, is looking to help prevent pulmonary embolisms in critically ill patients.

San Antonio-based BiO2 already has a lot on its agenda. It's well on its way toward gaining CE Mark approval for its Angel catheter--something it expects in the first or second quarter of the year. It hopes to also get a sign off from the FDA. In addition, it has started a first-in-human clinical study in Medellín, Colombia.

The catheter is a central venous catheter and inferior vena cava (IVC) filter combination device, intended to protect against pulmonary embolism. It will include a first of its kind prophylactic indication for IVC filter use, the company notes in its release.

The catheter is intended to be used when anticoagulation therapy poses a high risk for major bleeding and death, and patients could face venous thromboembolism (VTE). The filter can be easily removed once the danger of VTE has been resolved. The current market size for retrievable IVC filters is estimated at about $250 million in the U.S. alone, and growing at 11% annually, according to the company's website.

- check out the BiO2 release