Shape Memory Medical raises $7m

Shape Memory Medical has raised $7 million in a new round of equity financing, according to an SEC filing posted this week.

The Santa Clara, Calif.-based company is developing and commercializing polymer embolization devices based on a proprietary shape memory polymer it has licensed from Texas A&M University and the Lawrence Livermore National Laboratory.

Money in the round came through the sale of Series B preferred stocks from 15 anonymous investors, according to the filing, with the 1st sale in the offering dated on July 19. The company is looking to raise an additional $7 million before closing the offering.

Shape Memory Medical has not yet commented how it plans to use funds raised in the round.

Last month, Shape Memory Medical said it raised $18 million in a closed Series B preferred stock offering to support its polymer embolization devices.

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