Micell Technologies announced it has obtained $15 million in new financing, the second major infusion of cash in the Raleigh-based medical devices company in two months.
Micell, which is in the early stages of developing a new type of drug-coated stent for treating heart disease, said St. Jude Medical made the latest investment. St. Jude is a publicly traded medical devices company based in St. Paul, Minn., that posted $4.4 billion in sales last year.
"We are excited to have a company of St. Jude Medical's stature make an investment in Micell," CEO Arthur Benvenuto said in a prepared statement. "We look forward to collaborating with them to expand the use of our coating technology into potentially new applications for medical device products."
Last month Micell raised $5 million in financing. The company has about 10 employees, which it supplements with contract workers as needed.
The company expects to begin human tests of its MiStent product next year. Several years of testing are needed before the company can seek regulatory approval.
David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or 
