Navigation Links
Minimally Invasive Devices Raises $9 Million in Series B Financing to Commercialize Laparoscopic Visualization Product
Date:3/25/2013

COLUMBUS, Ohio, March 25, 2013 /PRNewswire/ -- Minimally Invasive Devices, Inc. (MID), today announced it has completed a $9 million Series B financing led by Canaan Partners. Charter Life Science, an existing investor, also participated in the financing. Coinciding with the close of the Series B, Brent Ahrens , general partner at Canaan Partners has been appointed to the board of directors and Jim Bobbitt has been appointed vice president of sales.

Funds from the Series B will be utilized to establish a direct sales force, expand manufacturing operations, develop complimentary products and generate additional data to support the efficacy of the FDA-approved FloShield™ laparoscopic vision system, the first device that prevents loss of vision during laparoscopic surgery due to obscuration of the optics.

"Modern high definition video systems give surgeons a crystal clear view of a patient's organs during laparoscopic surgery, but only when the optics are clean," noted Wayne Poll , M.D., founder and CEO of MID. "Obscuration of images due to contaminants on the optics is a real problem that surgeons have long taken for granted. It's rather like purchasing a high-end digital camera and being satisfied with photos taken through a dirty lens."

The performance of laparoscopic surgery is significantly enhanced by modern high definition (HD) video systems, yet fat, smoke or other contaminants can settle on the optics and obscure the images. Surgeons may be forced to stop their procedures, remove the camera from the patient, and clean the optics up to ten times an hour.

MID's FloShield laparoscopic vision system attaches to the HD camera system and uses an air curtain to form an invisible protective barrier over the lens. This system is augmented by the Flo-X lens wash, a biocompatible surfactant that will flush the lens inside the body if needed, so that surgeons may operate without loss of vision and without lens removal.

"The problem of dirty lenses in laparoscopic surgery is taken for granted as a cost of using the minimally invasive procedure," noted Brent Ahrens , General Partner at Canaan Partners. "FloShield is an elegant solution to this very real problem and has the potential to be expanded to other endoscopy platforms. MID is a natural investment for Canaan."

Jim Bobbitt brings decades of experience in medical device sales to MID. Most recently, he served as vice president of sales and marketing for Neomend, Inc., a medical device start-up focusing on surgical sealants that was acquired by C. R. Bard. Prior to that, he was vice president of sales and corporate services for USHIFU, a privately held company developing a device to treat prostate cancer.

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.


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

Related medicine technology :

1. Midwest Orthopaedics at Rush Minimally Invasive Spine Institute Opens Today
2. Endoscopy Devices Market to 2018 - Demand for Cost-Effective, Minimally Invasive Procedures and Reimbursement for New Indications to Increase Uptake
3. ROX Medical secures financing and achieves key milestones in providing minimally-invasive approach for treating hypertension
4. Peripheral Vascular Devices Market to 2018 - Increasing Demand for Minimally Invasive Endovascular Procedures Presents Growth Opportunities for Manufacturers
5. Apollo Hospitals Perform Revolutionary Minimally Invasive Knee Replacement (Resurfacement) Surgery
6. European Markets for Minimally Invasive Spinal Devices
7. Reimbursement Rates to Have Strong Effect on Adoption of Minimally Invasive Vertebral Compression Fracture Treatments
8. Studies Published in Pain Medicine Demonstrate Effectiveness of Minimally-Invasive Cooled Radiofrequency Treatment for Low Back Pain
9. Arthroscopy Devices Market to 2018 - Increasing Prevalence of Osteoarthritis and Preference for Minimally Invasive Procedures to Drive Future Growth
10. IRIDEX Introduces Non-Invasive MicroPulse™ Therapy for Glaucoma
11. Varian Medical Systems to Showcase Radiosurgery Technology for Non-invasive Treatment of Early Stage Inoperable Lung Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/15/2017)... 15, 2017   Mostyn Law and Gulf Coast Regional ... Texas . The Mostyn Law family has had ... That is why Mostyn Law is partnering with Gulf ... show its appreciation. Blood supplies are running low. Gulf ... of hospital needs in August. That is why the blood center ...
(Date:8/15/2017)... Inc., the creator of the drug Truveta for the treatment ... IPO. The United States spends approximately ... prescription epilepsy drug being $450.00-$1200.00 for a one month supply. ... AXIUM PHARMACEUTICALS, INC ... is the fact that Americans spent $42 billion on anxiety medications last ...
(Date:8/15/2017)... Aug. 15, 2017  AOTI Inc. announced today that its fully ... has recently opened a New York City Office in ... its unique Topical Wound Oxygen (TWO 2 ) homecare therapy. This ... Commission for Health Care (ACHC) under the company,s DMEPOS accreditation for ... ...
Breaking Medicine Technology:
(Date:8/18/2017)... ... 19, 2017 , ... Mr. Noppadon Pakprot, Deputy Governor for ... Health and Wellness Tourism Showcase 2017 yesterday, which unveiled the latest “Functional & ... Products and Business at TAT said, “Thailand has long been recognized as a ...
(Date:8/18/2017)... New York, New York (PRWEB) , ... ... ... Q International Courier, LLC, d/b/a Quick International, LLC (“Quick”), a highly specialized ... today announced it has entered into a definitive agreement to purchase Unitrans ...
(Date:8/18/2017)... NY (PRWEB) , ... August 18, 2017 , ... ... of “Vision & Hearing” campaign, advocating for active, healthy lifestyles and highlighting the ... available for individuals with hearing impairments and shares the latest innovations in hearing ...
(Date:8/18/2017)... ... 2017 , ... Hernandez Insurance Agencies, a northern Virginia firm ... DC region, is inaugurating a “New Leash On Life” charity initiative in conjunction ... to be companions for veterans in need. , The Semper K9 organization works ...
(Date:8/18/2017)... ... August 18, 2017 , ... MLM Insurance Group, ... communities throughout southern Florida, is working to support the Take Stock In Children ... low income families. , The Take Stock In Children Foundation (TSC) offers guidance ...
Breaking Medicine News(10 mins):