MedicaMetrix lands “fast-lane” grant | Funding Roundup

November 14, 2011 By MassDevice staff Leave a Comment

Urology diagnostics maker MedicaMetrix Inc. landed a $66,950 grant under the Medical Device Development Center’s "fast-lane" program to continue the development of its ProstaGlove for low cost detection of prostate cancer.

The grant was supported by the Massachusetts Technology Collaborative’s John Adams Innovation Institute.

“ProstaGlove is precisely the type of innovative device that merits public sector support”, M2D2’s Steve McCarthy said in prepared remarks. “With federal and state governments, through Medicare and Medicaid, paying hundreds of millions annually for diagnosis of prostate cancer, ProstaGlove has demonstrated comparative effectiveness, with the potential to deliver substantial savings.”

Sign up to get our free newsletters delivered right to your inbox.

ProstaGlove is a disposable procedure glove with an embedded sensor to measure prostate volume that, according to the company, will eliminate more than one third of prostate biopsies.

MedicaMetrix estimated that ProstaGlove will reduce the cost of prostate cancer diagnosis by more than $650 globally.

The Wayland, Mass.-based company said the grant would go towards funding clinical trials for FDA clearance.

The University of Massachusetts-Lowell officially opened the doors to its Massachusetts Medical Device Development Center (M2D2) in late September, after completing a $4 million renovation, where they Used Forklift Sales and other different equipment.

The project transformed 16,000 square feet of a former mill building into a high-tech startup space featuring wet laboratories, office and meeting space for emerging medical device companies.

Here’s a roundup of other dealflow and investment news:

Zimmer to sell $550M of senior notes
Zimmer Holdings Inc. (NYSE:ZMH) agreed to sell $550 million of senior notes in a public offering expected to close on Nov. 10.
Read more

Hansen signs agreement for private placement of common stock
Catheter robotics maker Hansen Medical Inc. (NASDAQ:HNSN) entered into a stock purchase agreement to raise $10 million for the same of common stock $2.09 per share.
Read more

Cormedics completes ETF investment process
Cormedics Corp. completed its planned start-up funding process with Texas Emerging Technology Fund resulting in a total investment of $750,000.
Read more

Patient Safety Technologies enters into warrant exchange agreement
Patient Safety Technologies, Inc. entered into warrant exchange agreements with three parties, including Brian Stewart, the company’s president & CEO.
Read more

Elron Electronic Industries signs $30M agreement with Silicon Valley Bank
Tel Aviv-based Elron Electronic Industries Ltd. (TASE:ELRN) signed a $30 million credit line agreement with Silicon Valley Bank for a period of 18 months.
Read more

Pivot Medical raises $32M in series C
Sunnyvale, Calif.-based Pivot Medical raised $32 million in series C financing led by new investor Adams Street Partners.
Read more

DFINE closes $25 million
DFINE Inc. closed $25 million financing. The financing included current investors OrbiMed Advisors, Prospect Venture Partners, Split Rock Partners, BBT Fund/Apothecary Capital, Highland Capital Management, and Vanguard Ventures.
Read more

Zeo adds $1M expand business
Newton, Mass.-based sleep device maker Zeo Inc. took $1 million of a planned $4 million debt offering to support its growing sleep management device business.
Read more

Scandu raises $2M to send your phone to medical school
Scandu raised $2 million from Angel investors in a financing round to help build its medical tricorder, do "check your body as often as you check your e-mail.
"
Read more

MassDevelopment’s loan helps build incubator space
MassDevelopment provided a $680,000 loan to Massachusetts Biomedical Initiatives to build a life sciences incubator in Worcester.
Read more

Doc resources startup raises $3M
Med-tech startup Kyruus Inc. raised $3 million in equity funding round to develop a software to match physicians with health care resources.
Read more

EHR provider lands $4.5 M
Alpharetta, Ga.-based electronic health records provider simplifyMD landed $4.5 million
in financing.
Read more

AmbiCom lands $1M in financing from Kodiak
Milpitas, Calif.-based AmbiCom Holdings (OTCQB:ABHI) landed $1 million in financing from Newport Beach, Calif.-based Kodiak Capital Group.
Read more

Plastikos implements bio-contamination testing and compliance under ISO 14698
Plastikos (Erie, Pa.) recently announced that it has implemented a formal bio-contamination testing and compliance system that’s in full compliance with ISO 14698-1 and ISO 14698-2 — a move the company described as paramount amid the COVID-19 pandemic. Plastikos and Plastikos Medical presently mold medical devices and parts within multiple ISO-7 certified cleanrooms. The new… […]
How 3D printing is enabling ventilator splitting
Amid the shortage of ventilators due to the COVID-19 pandemic, researchers are finding success using 3D printing to enable “ventilator splitting.” The search continues to go on for more machines, but there have already been government actions taken to increase amounts, while researchers have taken it into their own hands to create homemade-style ventilators. However,… […]
How R&D departments are coping with coronavirus
Hardly anyone’s R&D workplace has been spared all the repercussions of the COVID-19 crisis. People are working remotely, staggering their hours in laboratories to avoid too many coworkers, and relying heavily on conference calls and video meetings. Our WTWH Media sister site R&D World spoke to a few industry people to see how they’re coping… […]
Europe waives tariffs, import taxes on COVID-19 medtech
The European Commission has decided to waive tariffs and value-added taxes (VAT) on certain medical devices and personal protective equipment (PPE) coming from outside the EU during the coronavirus pandemic. The measure includes testing kits, ventilators and other medical equipment and will remain in force for six months, the commission said today. “In this emergency,… […]
FDA eases mask regulations, seeks to boost decontamination of used masks
The FDA yesterday further relaxed regulations on medical and surgical masks and face shields to ease shortages during the coronavirus pandemic, and invited companies that decontaminate masks to submit proposals for emergency authorizations. In a new guidance, the agency also gave its blessing to healthcare providers to use improvised masks during the public health emergency when… […]
BARDA opens research portal to fight COVID-19
By James Keller, Emergo Group The Biomedical Advanced Research and Development Authority (BARDA), which is part of the US Health and Human Services Office of the Assistant Secretary for Preparedness and Response, is seeking information from stakeholders on available medical countermeasures in development. It is particularly interested in products and technologies that have progressed into… […]
Group seeks manufacturers’ input to reduce medical supply shortages
The National Center for Manufacturing Sciences (NCMS) today announced a new partnership with the U.S. Department of Defense (DOD) and the Federal Emergency Management Agency (FEMA) to reduce the critical shortage of medical equipment and supplies due to the coronavirus pandemic. The industry organization said it is seeking feedback from advanced manufacturing companies about capability,… […]
What is medical tubing used for?
Medical tubing is designed for a number of applications that allow clinicians to administer fluid and devices or allow for gas flow. Common applications of medical tubing include ventilators and IVs, but tubing also finds uses supporting access devices and as a delivery method for other devices. For example, tubing can be used to drive […]
Hack the Crisis: Clippard expects growth as it increases production for ventilator pneumatics
Mary Gannon, Fluid Power World Cincinnati-based Clippard said today it expects to hire more staff to meet the growing demand for its components and subassemblies for ventilators, diagnostic equipment and other critical care devices to help fight the coronavirus. The company manufactures valves, electronic pressure controls, custom assemblies, cylinders, air-preparation equipment and fittings for hose… […]
EPA inspector general wants more public input on ethylene oxide exposure
The U.S. Environmental Protection Agency’s inspector general this week recommended opening a channel of communication between government officials and people who live near 25 plants that use ethylene oxide (EtO), including eight used for sterilizing medical devices. But EPA administrator Andrew Wheeler objected, publicly indicating that his office was blindsided by the request. The forum… […]
Don’t curb your enthusiasm, but be realistic about MacGyver ventilators
In a coronavirus pandemic in which patients on the best commercial ventilators will die, are garage enthusiasts ready to stand behind their work? Scott Thielman, Product Creation Studio Almost a decade ago, Dr. Robert Clark, a pulmonologist then at Regional Hospital for Respiratory and Complex Care near Seattle, approached my company with a warning and an… […]