Checkpoint Surgical Raises $250,000 Equity Financing from JumpStart
Summary
Checkpoint Surgical, LLC., a Highland Hills, OH-based medical device company that is developing and commercializing a surgical handheld disposable nerve stimulator, raised a $250,000 equity financing from JumpStart Inc., the Northeast Ohio venture development organization that accelerates the progress of high growth early-stage businesses.Commenting on the investment, Len Cosentino, Chief Executive Officer of Checkpoint Surgical, explained how the proceeds will be used: He said: “JumpStart’s funding will help support our pilot launch effort that will demonstrate market acceptance and provide other useful market data over the next few months leading up to a full commercial launch in mid 2010”.A spinout of NDI Medical, Checkpoint Surgical provides physicians with medical devices to locate, evaluate and protect nerves and muscles in surgical procedures for better patient outcomes.The Company’s flagship product, the CHECKPOINT® Stimulator/Locator is a single-use, hand-held stimulator with a broad range of stimulation parameters that are fully controllable by the surgeon.FinSMEs 10/11/2009