Skin closure device maker KitoTech Medical has raised approximately $1.9 million in a new round of debt and options financing, according to a recently posted SEC filing.
The Seattle-based company has developed the MicroMend skin closure device, designed as an alternative to sutures, surgical glue and adhesives trips, according to the company’s website.
The MicroMend strips feature 1 mm micro staples embedded in an adhesive strip to anchor to the skin and close a variety of incisions and lacerations. The system comes in either a butterfly bandage or straight edge bandage, according to the site.
A total of 69 anonymous investors took part in the round, with the first sale dated on December 15, 2017.
The company is looking to raise an additional $1.1 million before it closes the offering, which would bring the total raised up to $3 million, according to the filing.