PHILADELPHIA (NBC Philadelphia) — The Food-and Drug Administration-approved mi-eye 2, launched in a limited number of markets in October, for use as a second generation version of the company’s diagnostic product.
Montgomery County medical device maker Trice Medical raised $19.3 million from a private stock sale, which it plans to use to take its mi-eye 2 product national.
The Food-and Drug Administration-approved mi-eye 2, launched in a limited number of markets in October, for use as a second generation version of the company’s diagnostic product. The device is a disposable needle embedded with a wide-angle camera lens that lets physicians diagnose joint injuries from the office.
As part of the series C financing, Smith & Nephew (NYSE:SNN), a global medical equipment manufacturer based in London, acquired a minority stake in the company. It joined a consortium of current investors – including Radnor-based Safeguard Scientifics (NYSE:SFE), HealthQuest Capital, and BioStar Ventures — who also participated in latest funding round.
Trice Medical has raised $40.9 million since its inception in 2011.
