MedicaMetrix Announces $0.5 Million Series A Raise

MedicaMetrix raises funds to commence commercialization of ProstaMetrix device

BOSTON, MASSACHUSETTS (July 1, 2020) – MedicaMetrix, LLC, a prostate health management medical device company announced today that the company raised $0.5 million under the terms of its Series A Preferred Equity offering. The company plans to use these funds to commence manufacturing of the ProstaMetrix device, conduct additional clinical studies, obtain ISO 13485 and CE Mark certification, design and engineer its next generation controller device, and develop marketing programs to support the ProstaMetrix product rollout in first quarter 2021.

“We are delighted by the strong response to our Series A offering,” said Satish Vankayalapati, Co-Founder and Chairman of MedicaMetrix. “These funds allow us to quickly begin executing to achieve a number of important milestones leading up to our target market launch in early 2021.”

“The funding helps accelerate market launch of ProstaMetrix, a medical device that accurately and repeatably measures prostate volume, a key variable that helps clinicians diagnosis prostate cancer,” said Robert Rudelius, MedicaMetrix Co-Founder and CEO.

About MedicaMetrix
MedicaMetrix develops innovative technologies and device solutions that transform the healthcare status quo, leading to better medical outcomes, streamlined care and enhanced patient experience.

We are leading the development of a new paradigm that transforms the diagnosis, treatment, and management of prostate health by filling the gap between PSA testing and imaging / biopsies. The ProstaMetrix system is a minimally invasive medical device designed to accurately measure the volume of the prostate gland early in the diagnostic process. ProstaMetrix helps physicians assess a patient’s prostate status to better plan and monitor diagnostic procedures, treatments, drug therapies, and guide recommendations for active surveillance versus prostate biopsies.

MedicaMetrix is planning to acquire and develop other new medical devices with the goal to bring them to market rapidly by leveraging our planned production facilities in the U.S. and India.

Cautionary Statements Concerning Forward-Looking Statements
This press release contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or predictions of future conditions, events, or results based on various assumptions and management’s estimates of trends and economic factors in the markets in which we are active, as well as our business plans. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “forecasts,” “continue,” “may,” “should,” “will,” “goals,” and variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements may include, without limitation, statements related to the expected impact of COVID-19 on our business, statements regarding our growth, product development, product potential, financial performance, sales growth, product adoption, market awareness of our products, data validation, our assessment of our internal controls over financial reporting, our visibility at and sponsorship of conferences and educational events. The forwardlooking statements are and will be subject to risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements contained in this press release should be evaluated together with the many uncertainties that affect our business and our market, as well as other risks and cautionary statements set forth in our filings with the U.S. Securities and Exchange Commission. Forward-looking statements are not a guarantee of future performance, and actual results may differ materially from those projected. The forward-looking statements are representative only as of the date they are made and, except as required by applicable law, we assume no responsibility to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or otherwise.

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