BiO2 Medical Inc. has raised nearly 90 percent of a $5.22 million offering, selling $4.57 million in equity to 66 investors. Principals named in the filing by the San Antonio-based maker of medical devices are CEO Christopher Banas, President Paul Castella, co-founder Luis Angel and director Alan Dean. BiO2, which previously was known as Artificial Airways Inc., disclosed in its SEC filing that a portion of the proceeds is to be used to pay the salaries of named executive officers and directors.
