Pulse Therapeutics, a St. Louis-based medical device startup, has raised approximately $10 million from a group of investors led by Silicon Valley venture capital firm NanoDimension.
Also participating in the deal were St. Louis-based FTL Capital and Cultivation Capital.
Pulse has developed magnet-based technology that can dissolve blood clots, which could improve treatment of strokes and other diseases.
According to a filing with the Securities and Exchange Commission, Pulse reported Jan. 27 raising $5.6 million from 29 investors. Tom Hillman, managing principal of FTL Capital and chairman of Pulse’s board of directors, said that total had jumped to more than $10 million.
The money, Hillman said, will be used for further clinical trials. Hillman said NanoDimension also committed to additional funding if and when Pulse reaches certain milestones.
“We like Pulse for a variety of reasons,” Hillman said. “First, we believe in the science behind Pulse and its people, but we also see how substantial the opportunity is.”