Sutura Inc., a Fountain Valley medical device maker that recently began trading on the over-the-counter bulletin board, said it closed a $7 million round of financing with Whitebox Advisors LLC of Minneapolis.
The company plans to use the money to move itself into “its next phase of development” and support hiring experienced sales staff and expanding marketing and sales plans for SuperStitch, its core product.
SuperStitch is used to suture punctures created in arteries during open surgery and catheter-based surgical procedures.
Sutura recently went public through a reverse merger with Technology Visions Group Inc., a San Marcos research and development company that had traded on the bulletin board.
