TherOx Inc., an Irvine-based medical device maker, has raised $30 million in financing.
The money will help pay for a clinical study of its therapeutic oxygen system used to help treat heart conditions, the company said.
TherOx is privately held. Its funding is among the larger venture investments in Orange County companies this year.
The device maker has raised more than $60 million since it was founded more than a decade ago.
The company is developing technology that combines oxygen and water to create “aqueous oxygen.” TherOx also is working on a minimally invasive device to send the aqueous oxygen to the heart area.
The mixture minimizes the damage to the heart muscle following a heart attack, the company said. Injecting the solution is designed to follow surgery and stent device treatment after a heart attack.
TherOx sees its technology eventually being used to treat early conditions that lead to congestive heart failure, said Rob Weigle, vice president, marketing and sales.
TherOx plans to use the latest investment to conduct the final phase of a study, request premarket approval from the Food and Drug Administration and build its manufacturing operations, said Chief Executive Kevin Larkin.
For more on this story, see the July 25 edition of the Orange County Business Journal.
