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.
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.
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