Kona Medical Adds $10M

Bellevue-based medical devices developer Kona Medical said yesterday that it has added $10M in equity and debt as part of its Series C financing round, bring its total raised in the round to $40M. The firm said it added two, un-named large-cap strategic investors to the round, on top of existing investments from Essex Woodlands, Domain Associates, Morgenthaler Ventures, Western Technology Investments, BioStar Ventures, and individuals. The debt portion of the funding came from Silicon Valley Bank. Kona Medical is developing a device which uses ultrasound for renal denervation, the treatment of nerves leading to and from the kidney. The firm said that has been shown in clinical studies to reduce high blood pressure. More information »