MedicaMetrix Announces $0.5 Million Series A Raise – MedicaMetrix
Summary
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. 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.