MicroCHIPS Raises $16.5M in Equity Financing
Summary
MicroCHIPS, Inc., a Bedford, MA-based developer of intelligent implant systems, has raised $16.5m in equity financing.During 2010, MicroCHIPS will conduct initial clinical testing to advance its diabetes program.Its intelligent in-body system is an implant designed to sense real-time changes in glucose levels and deliver data to a mobile device.The osteoporosis device, also in advanced development, is designed to automatically deliver precise doses of an anabolic bone building agent without requiring patients to remember to do injections, use patches, or take pills on a daily basis.Commenting on the financing, John Santini, president and CEO of MicroCHIPS, was reported as saying: “Support from our investors enables us to bring our vision to life.