Navigation Links
Minimally Invasive Devices Adds $2.5 Million to its Series B
Date:6/17/2013

COLUMBUS, Ohio, June 17, 2013 /PRNewswire/ -- Minimally Invasive Devices, Inc. (MID) today announced it has raised an additional $2.5 million from Radius Ventures, topping off its Series B financing at $11.5 million. The Series B originally raised $9 million in a financing led by Canaan Partners with participation by existing investor, Charter Life Sciences.

FloShield™, MID's flagship laparoscopic vision system is the first and only product that actually maintains a clear field of vision from beginning-to-end in laparoscopic surgery procedures. FloShield technology easily attaches to modern HD vision systems, enabling surgery to occur without interruption, loss of vision, or the need to remove the scope for cleaning. Such removals are time consuming, interfere with the focus of the operative team, and frequently occur during critical points in surgery when optimal vision is critical, leading to surgeon frustration.

"Currently, surgeons will lose vision and need to stop surgery to clean the lens externally as often as ten times per hour," said Wayne Poll, MD, founder and CEO of MID. "We believe that surgeons will appreciate and value the benefits of a consistently clear view and will come to expect this as a standard, without nostalgia for the days they needed to clean the lens constantly when vision was lost."

FloShield produces an air vortex to form an invisible protective barrier over the lens, preventing debris and fogging. This system is augmented by the Flo-X lens wash, a biocompatible surfactant that will flush the lens inside the body if needed.  Generation III FloShield is now launching, which improves further upon the system's in situ flush capabilities.

Funds will be used for sales and marketing, clinical studies, the generation of outcomes data and additional product development.

Jordan Davis, Managing Partner of Radius Ventures commented, "FloShield has hit a bullseye in delivering on the number one need of all laparoscopic surgeons – that is, avoiding loss of vision due to debris and fogging of the lens, particularly during long, complex procedures.  No other technology to date has been able to achieve a continual, clear field of vision throughout such procedures, enabling surgeons to remain in control, maximizing operating room efficiency and potentially safety." 

About Minimally Invasive Devices, Inc.

Minimally Invasive Devices, Inc. (MID) has developed and manufactures the FloShield™ laparoscopic vision system, the first device that prevents loss of vision during laparoscopic surgery due to obscuration of the optics.

About Radius Ventures, LLC

Founded in 1997, Radius Ventures is a venture capital firm that invests in expansion-stage health and life sciences companies. Radius has a deep understanding of the complexities and opportunities that drive successful health and life sciences investing. The firm's goal is to identify companies on the cusp of major value creation with the objective of achieving liquidity within a three- to five-year time frame. Central to the firm's investment strategy is providing growth capital to well-managed companies addressing large markets with attractive adoption dynamics.  Ideal investment candidates are capital efficient with scalable business models and compelling value propositions.  For more information visit www.radiusventures.com

Company Contact:
Wayne Poll
wpoll@midsurgical.com

Media Contact:
Carolyn Hawley
Canale Communications
carolyn@canalecomm.com
+1-619-849-5375


'/>"/>
SOURCE Minimally Invasive Devices, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. ResearchMoz: Ophthalmic Devices Market to 2017 - Glaucoma and Cataract Surgery Devices, Minimally Invasive Procedures in Ophthalmic Surgery to Drive the Ophthalmic Surgery Market
2. US Minimally Invasive Spine Technology Market to Grow Strongly to $2 Billion by 2017
3. DermTechs Non-invasive Melanoma Detection Assay Poised to Enter Clinical Validation Study
4. Antelope Valley Hospital Converts to Masimo rainbow SET for State-of-the-Art Noninvasive Patient Monitoring Capabilities
5. Exosome Diagnostics Presents Data at American Urology Association Demonstrating Potential Utility of Urine Exosomes to Non-invasively Detect and Manage Prostate Cancer
6. A non-invasive method to track Huntingtons disease progression
7. The American College of Obstetricians and Gynecologists Committee on Genetics and the Society for Maternal-Fetal Medicine Publications Committee Recommend Noninvasive Prenatal Testing for Fetal Aneuploidy
8. MonaVie Introduces Non-Invasive Technology Device to Measure Antioxidant Levels in the Body
9. Non Invasive Bed Bug Treatments Offered to a State Library Shutdown Due to Sightings of Bed Bugs, MyCleaningProducts.com Details the Treatments' Process
10. Non-Invasive Rust Remover Clears Rust Without Use of Chemicals, My Cleaning Products Dishes Out Samples of It to Prove It Works
11. Three-Step Rust Removal With a Non-Invasive Rust Remover Published by My Cleaning Products, MCP Offers Sample of the Product
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)...  Dovetail Genomics™ LLC today announced that it has ... planned metagenomic genome assembly service. Richard Green , ... method in a talk on Friday, February 12 at ... in Orlando, Fla. ... difficult. Using its proprietary Chicago ™ ...
(Date:2/11/2016)... --  BioInformant announces the February 2016 release of ... Tools, and Technologies – Market Size, Segments, Trends, and ... The first and only market research ... has more than a decade of historical information on ... cell type. This powerful 175 page global strategic report ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... has announced a new agreement with Bankok,Thailand-based Global Stem Cells Network (GSCN) to ... in 15 Latin American countries, including Mexico, Costa Rica, Dominican Republic, Colombia, Argentina, ...
(Date:2/10/2016)... /PRNewswire/ - BioAmber Inc. (NYSE: BIOA ), a ... Mitsui & Co. Ltd., its partner in the ... investing an additional CDN$25 million in the joint venture ... 30% to 40%.  Mitsui will also play a stronger ... Sarnia , providing dedicated resources alongside ...
Breaking Biology Technology:
(Date:2/3/2016)... , February 4, 2016 --> ... SEK 1,351.5 M (105.0), up 1,187% compared with fourth quarter of 2014. ... to SEK 517.6 M (loss: 30.0). Earnings per share increased ... was SEK 537.4 M (neg: 74.7). , ... Revenues amounted to SEK 2,900.5 M (233.6), up 1,142% compared with 2014. ...
(Date:2/3/2016)... -- Vigilant Solutions announces today that the ... solved two recent hit-and-run cases with the ... Solutions. Brian Wenberg explains, "I was ... out of a convenience store and witnessed an elderly male back out ... his vehicle and leaving the scene.  In his statement ...
(Date:2/2/2016)... , Feb. 2, 2016  BioMEMS devices ... primarily focused on medical screening and diagnostic ... parameters. Wearable devices that facilitate and assure ... of movement are being bolstered through new ... biomedical signal acquisition coupled with wireless connectivity ...
Breaking Biology News(10 mins):