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Medical Device Firm Chesson Labs Raises $1.5 Million


10/18/2011 7:55:11 AM

Medical device company Chesson Labs has raised $1.45 million in a second round of financing targeting $2 million. The Durham, North Carolina company disclosed the new financing in an amended securities filing. The current round of financing started in 2009, shortly after the company received 510(k) clearance on its liquid bandage product from the U.S. Food and Drug Administration. Chesson had previously raised $3.3 million in a series A round that closed in 2008. The liquid bandage Nuvaderm was cleared for use in superficial cuts and scrapes. Chesson also has a similar product for animals called Nuvavet. Research firm Global Markets Direct forecasts the global market for wound care management will top $17 billion by 2015, up from about $13 billion in 2008.

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