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Four S.A. companies get venture funding
April 20, 2012

By Patrick Danner, San Antonio Express-News

Four San Antonio companies received more than a combined $22.1 million in venture funds in the first quarter, according to the latest MoneyTree report.

The amount was actually higher, but the MoneyTree report did not mention how much was raised by one company, AirStrip Technologies Inc. It develops mobile patient-monitoring software.

In February, AirStrip reported a subsidiary of hospital operator HCA Holdings Inc. made an undisclosed financial investment in the company. HCA is part owner in Methodist Healthcare System, which has nine area hospitals.

Medical-device manufacturer BiO2 Medical Inc. raised $13.7 million.

BiO2 Medical is working on commercializing the Angel Catheter, a device designed to prevent potentially fatal pulmonary embolisms from occurring by trapping blood clots before they reach the lung.

Seno Medical Instruments Inc. raised about $7.4 million. It is focused on early detection of cancer through the use of patented imaging technology.

About $1 million was raised by drug-development company ViroXis, which is working on bringing to market prescription and over-the-counter treatments for warts, shingles and other skin afflictions.

San Antonio/South Texas companies raised $11 million in the fourth quarter of 2011 and $655,000 in the first quarter of 2011.

Austin-based Drilling Info Inc., a software company for the oil and gas industry, raised more money - $116.8 million - than any other Texas company last quarter.
Overall, about $388.5 million was raised by Texas companies in the first quarter. That's up from $325.3 million in the fourth quarter of 2011 and $318.9 million in the first quarter of 2011.

The MoneyTree report was prepared by PricewaterhouseCoopers LLP and the National Venture Capital Association.

 

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