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September 28, 2011

Medical device firm Atlanta Catheter Therapies raises $2.35M

Filed under: Regional Venture News — admin @ 4:01 pm

ATLANTA, GA - A Marietta-based based medical device company that focuses on catheter technologies has raised $2.35 million, according to a Securities and Exchange Commission filing.

Atlanta Catheter Therapies Inc. has a portfolio of catheter technologies for the treatment of vascular disease and restenosis.

The early stage research and development medical device company has developed a drug delivery device for the treatment of restenosis (re-blockage of blood vessels) and is developing devices for endovascular debulking (clearing of blocked blood vessels).

ACT’s role in product development includes design, IP patent filing, engineering, working prototyping, bench testing, animal testing, and regulatory approvals, according to its website. Once the device is ready for human trials, manufacturing, sales and distribution, ACT will license or sell the technology to a strategic partner.

A call to ACT Wednesday morning was not immediately returned.

The company was founded in 2008 by Dr. Rex Teeslink, an interventional radiologist, Dirk Hoyns, a medical device engineer, and the Medical Device Development Group (MDDG).

Paul J. Fitzpatrick is ACT’s CEO and director. Other ACT directors include F. Kevin Dye, David Belitz and David Adair, the SEC filing noted.

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