ZipLine tows in $16.4m

ZipLine Medical raised $16.4 million in a new round of equity and debt financing, according to an SEC filing posted today. The company has not stated how it will use the funds raised in the round.

Campbell, Calif.-based ZipLine Medical developed and markets its Zip surgical closure device.

The Zip is a low-cost, non-invasive skin closure device designed as an alternative to suturing and stapling. The company hopes the non-invasive option will cut down on surgical site-related infections.

The Zip surgical skin closure device is designed to exert uniform closure forces while minimizing scar-promoting tension along the wound and reducing the chance of infection, and has FDA 510(k) clearance.

The company is still seeking another $10.5 million in the round, according to an SEC filing posted today. The money raised so far came from 28 anonymous sources.

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