Micro Therapeutics Gets Financing Commitment

Micro Therapeutics Inc. said Tuesday that it has received a $56-million financing commitment from Micro Investment LLC, a company managed by Warburg, Pincus Equity Partners LP.

The Irvine maker of devices to treat vascular disease said in a news release that the financing will support its clinical, marketing and new product development programs, principally for its Onyx Liquid Embolic System.

The financing consists mainly of a two-stage private placement of stock, with the first stage expected to be funded by the end of this week with the sale of nearly 2 million shares at $3.75 a share. About 8.1 million shares would be sold at $6 a share in the second stage. The stock rose 65 cents Tuesday to close at $5.85 a share on Nasdaq.