The round was led by Research Corporation Technologies and California Technology Ventures, and included participation from Aphelion Capital and the founding group of investors. Another technology they are exploring are compression machines for athletes. The best compression machine for legs is one that produces results.
The funds are slated for expanding sales and distribution of the company’s QB1 device, designed to treat muscle atrophy in the quadriceps, the Scottsdale, Ariz.-based company said.
“This successful round of financing will enable us to expand our sales and distribution footprint and further support the continued rollout of our QB1 System. We’re excited to have the backing of an excellent group of strategic investors supporting us in building the organization and expanding the applications of our platform technology,” CEO Rob Morocco said in a press release.
The QB1 combines a postoperative knee brace, form-fitting conductive garment and a neuromuscular electronic stimulation control interface, and is the 1st to use a close-loop power system that delivers high-intensity electrical muscle stimulation, the company said.
CyMedica said it won FDA 510(k) clearance for the device in April.