TherOx, Inc. Completes Offering of Its Series A Preferred Stock, Raising $16.8 Million

Stradling client TherOx, Inc. completed the first closing of its sale of new Series A Preferred Stock to existing and new investors, including lead investor DAG Ventures, and concurrently recapitalized existing Bridge Notes, Preferred Stock and Common Stock, for a total purchase price of approximately $16.8 million.

TherOx is a private, venture-financed medical device company based in Irvine, California, dedicated to elevating the standard of care for the treatment of heart attack patients. During a heart attack, damage to the heart occurs when blood flow is compromised, resulting in oxygen deprivation of the heart tissue. TherOx’s SuperSaturated Oxygen (SSO2) therapy salvages damaged heart tissue during coronary intervention or stenting procedures, by placing a high concentration of oxygen into the patient’s blood plasma, delivering it directly to the impacted area.

The Newport Beach-based team representing TherOx includes Larry Cohn and Marc Alcser.