Posts Tagged ‘Maryland’
Tuesday, July 6th, 2010
 BETHESDA, MD – United BioSource, a scientific and medial affairs organization, has secured a $150 million line of credit to fund future acquisions and other growth, the company says. Wells Fargo, PNC Bank, Capital One and JPMorgan Chase participated in financing the new credit facility.
UBC UBC was formed in 2003 with $153 million in private equity investments. In 2009 the company secured an additional $125 million investment from Boston-based Berkshire Partners. UBC recently opened their tenth office in Europe and their first in Japan. The company employs over 1,400 staff in 21 countries around the world.
We’ve noticed that the Maryland biotech sector has been hot as those July 4 firecrackers we just saw. North Carolina better watch out, or Maryland will be squeezing it out of its current place as a top U.S. biotech hub. For years, in some rankings, NC and Maryland jockeyed for third or fourth place among the major U.S. biotech centers.
It partners with life science companies to develop and commercialize biopharmaceuticals, medical devices, and other health care products.
The company says it helps deliver authoritative, real-world evidence to characterize product effectiveness, address safety risk, and demonstrate value. UBC brings together recognized scientific and industry experts, research operations professionals, and new technologies to provide innovative solutions across the product lifecycle.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: biotech hubs, financing, Maryland, UBC
Posted in Carolinas, Maryland, Money, North Carolina, Potomac | Comments Off
Tuesday, July 6th, 2010
 TOWSON, MD -Bringing NASA science down to earth, LeukoDx Inc., a company that is developing a hand held diagnostic device that can rapidly diagnose infections and other conditions, has raised an additional $115,000 in early stage equity. The company disclosed the funding in a filing with the U.S. Securities and Exchange Commission.
It nabbed $377,000 last fall.
The company evolved from NASA’s need for a hand held diagnostic device for its Mars mission. NASA funded two contracts for a project led by Acaltech scientist and one of LeukkoDx’s founders to develop the technology for the device.
The company’s point-of-care device provides quantitative information about white blood cell count, cell surface markers and plasma protein levels. It can help care providers establish that an infection is bacterial or viral and the extent of the infection.
While the cartridge-based system has many potential applications, LeukoDx focuses on identifying and characterizing infections, HIV progressing and other factors.
The disposable cartridge can perform a number of tests using a small quantity of blood and produces results in minutes
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Biotech, diagnostic medical device, financing, LeukoDx, Mars Mission, Maryland, NASA
Posted in Maryland, Money, Potomac | Comments Off
Thursday, July 1st, 2010
 ROCKVILLE, MD – Vanda Pharmaceuticals Inc. (Nasdaq:VINDA), a biopharmaceutical company focused on the development and commercialization of clinical-stage products for central nervous system disorders, says former acting U.S. Surgeon General Steven Galson to its board.
Mihael H. Polymeropoulos, M.D., president and CEO of Vanda, said, “Dr. Galson’s experience as the former Acting U.S. Surgeon General and Deputy Director and Director of the Center for Drug Evaluation and Research will add tremendous value to the board.”
We don’t generally note board appointments, but nabbing a former Surgeon General–even an acting one–is something of a coup.
Currently, Dr. Galson is the Senior Vice President for the Civilian Health Operation at Science Applications International Corporation (SAIC). He has also held executive positions in the U.S. Environmental Protection Agency, U.S. Department of Energy, and the Centers for Disease Control and Prevention’s National Institute for Occupational Safety and Health.
That sort of background has to be a plus for any company in the highly regulated pharmaceutical industry.
Tags: Maryland, nervous system disorders, People, Pharma, Steven Galson, Surgeon General, Vanda Pharmaceuticals
Posted in Maryland, People, Potomac | Comments Off
Wednesday, June 30th, 2010
 C. Douglas While, OpGen CEO GAITHERSBURG, MD – OpGen, Inc., a genomics solutions company, has named C. Douglas White CEO. He replaces Evan Jones, managing member of jVen Capital and previous co-founder, chairman and CEO of Digene Corporation, who held the position on an interim basis.
In conjunction with this appointment, Jones remains a member of OpGen’s board of directors, and White also joins the board.
White brings more than two decades of global leadership experience in clinical diagnostics, including senior executive roles with BG Medicine, QIAGEN, Digene, Bayer Diagnostics and Chiron Diagnostics.
Jones commented, “Doug was an integral part of our success at Digene, guiding strategy and maximizing the value of the company’s technology, and I am confident that his considerable experience will provide invaluable insights as we seek to maximize the potential of OpGen’s Optical Mapping technology.”
Prior to joining OpGen, Mr. White served as executive vice president and general manager for the diagnostics division of BG Medicine, a commercial-stage company focused on the discovery and application of novel biomarkers associated with cardiovascular disease, central nervous system and autoimmune disorders.
White served as chair of the Americas Management Council and senior vice president of sales and marketing, Americas, for QIAGEN, N.V. He also served as senior vice president commercial operations, Americas and Asia Pacific, for Digene Corporation, prior to the company’s $1.6 billion acquisition by QIAGEN in July 2007.
Tags: C. Douglas White, genomics, Maryland, OpGen, People
Posted in Maryland, People, Potomac | Comments Off
Wednesday, June 30th, 2010
 BALTIMORE – Moodlerooms Inc., a company selling an e-learning management platform, has raised $7.15 million in equity, according to a regulatory filing. The company, which recently won the Maryland Incubator Company of the Year award for IT, has more than 700 customers.
We reported in February that the company raised $450,000.
Moodlerooms was founded in 2005 by former teachers Tom Murdock, Sheila Gatling and Gina Russell-Stevens. Its course management system, is based on the open source Moodle system, a free Web application that teachers use to create online learning sites.
Investors include Longworth Venture Partners, Kaplan Ventures, Frank A. Bonsal III, and New Markets Growth Fund.
CEO Martin Knott founded and funded numerous startups. Most recently, Knott established The Shepherd Group, a retained executive search firm, after serving as a managing director of three global search firms.
As a former teacher, we think the increasing use of technology by educators is overdue. The Potomac region is something of a hotbed for education tech. Industry giant Blackboard is located in DC and numerous startups have evolved there. Kaplan, although based in New York, is a Washington Post company.
The Moodlerooms Web site says it is the largest Moodle partner in the world and it has doubled in size from 2008 to 2009 while increasing revenue 100 percent since inception. Its joule product adds features such as reports, notifications, automated administration and content management to Moodle.
It was nurtured at the Baltimore Emerging Technologies Center.
The company disclosed the current financing in a filing with the U.S. Securities and Exchange Commission.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: education, financing, IT, Kaplan Ventures, Longworth Venture Partners, Maryland, Moodlerooms, New Markets Growth Fund
Posted in Education, Internet/New Media, IT, Maryland, Money, Potomac, Washington, DC | Comments Off
Tuesday, June 29th, 2010
 BETHESDA, MD – Pervacio Inc., a company selling mobile device management software and services, has raised $3.6 million of a $5.3 million offering, according to a regulatory filing. The offering includes equity and conversion of debt into stock.
Founded in 2004, Pervacio raised a $500,000 first round. Founders Sanjay Kanodia, CEO and Alex Chernyakov are veteran software executives.Investors include Bethesda-based Vital Financial and Massachusetts-based Long River Ventures.
The company’s Revolution Device Management Platform is comprised of 13 individual products and 27 features, services and agents delivered over a Web interface. It is a device and network agnostic solution, and supports Windows Mobile, Palm OS, Windows Laptops, BlackBerry, Symbian, Android & iPhone based devices, while the server component runs within a SaaS environment.
With the explosion of smartphone use in companies, we suspect that Pervacio is poised to do well. According to news releases on its Web site, it weathered the economic downturn well.
Contact Tech Journal South Editor and writer Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Alex Chernyakov, Bethesda, financing, Long River Ventures, Maryland, mobile device management, Pervacio, Sanjay Kanodia, telecom, Vital Financial
Posted in Internet/New Media, IT, Maryland, Money, Potomac, Telecommunications | Comments Off
Wednesday, June 23rd, 2010
 BETHESDA, MD – Vital Financial 2010A, which finds and structures venture capital investments in technology companies, has at least $1.84 million of a $1.85 million equity offering according to a regulatory filing.
Founded in 2007, the company’s portfolio includes Charlotte, NC-based Clinverse Inc., which focuses on financial management of clinical trials.
The company has principal investor offices in Simsbury, CT, Bethesda, MD, Newark, DE, Philadelphia, PA, Naples, FL, and Lincolnhire, IL.
Its other current portfolio companies are Certicom Corp., a publicly-traded encryption software firm and New Jersey-based CR Certification Corp., which reviews cardiac emergency readiness programs.
Tags: Charlotte, Clinverse, financing, investment firm, Maryland, NC, Vital Financial
Posted in Carolinas, IT, Maryland, North Carolina, Potomac | Comments Off
Monday, June 21st, 2010
 ANNAPOLIS, MD - Zenoss, a commercial open source software company delivering network, server and application monitoring solutions, has raised $4.83 million of a $5.2 million round, according to a regulatory filing. The company previously raised about $20 million.
Investors include many venture firms we know well, Grotech Ventures, Intersouth Partners, Boulder Ventures, Amplifier Venture Partners, Silicon Valley Bank and the Maryland Department of Business and Economic Development’s Enterprise Investment fund.
Founded in 2005, the company’s products monitor more than one million network and server devices daily and have been used by more than 25,000 organizations in 180 countries. Zenoss Enterprise is a single model, commercial open source-based product that enables organizations to seamlessly manage physical, virtual and cloud based infrastructure.
Commercial customers include leading companies such as Rackspace, VMware, LinkedIn, Carlson, Motorola and Deutsche Bank.
In April, it won he 2010 Innovator award by the Chesapeake Regional Tech Council (CRTC). In 2009, Zenoss also won CompTIA’s Innovator of the Year in Enterprise Software.
Tags: Amplifer, Boulder Ventures, DBED, financing, Grotech, Intersouth Partners, IT management, Maryland, open source, SVB, Zenoss
Posted in IT, Maryland, Money, Potomac | Comments Off
Thursday, June 17th, 2010
 BALTIMORE – -Arginetix Inc. and Immune Control Inc. have merged to form Corridor Pharmaceuticals Inc., which will develop novel treatments for vascular diseases with an initial focus on pulmonary arterial hypertension. In conjunction with the merger, Corridor Pharmaceuticals completed a $15 million Series A financing with all major investors of both predecessor companies.
Investors include: Domain Associates, Quaker BioVentures, MedImmune Ventures, NewSpring Capital, Maryland Health Care Product Development Corp., Ben Franklin Technology Partners of Southeastern PA, Acidophil LLC, and Red Abbey Venture Partners.
We think this is an interesting trend, venture firms merging and recapping complementary companies under one management team.
Gary Lessing, formerly the CEO of Arginetix, will serve as CEO of Corridor, and Stephen Roth, Ph.D., formerly CEO of Immune Control, will serve as executive vice chairman of the board.
“This merger combines two talented teams and two complementary technology platforms to develop promising new therapeutics to treat pulmonary and vascular diseases,” says Lessing. “Together, we have the resources to advance our product pipeline and manage critical clinical, scientific and regulatory activities.”
C-122, Corridor’s lead candidate for PAH, has undergone extensive preclinical pharmacokinetic and toxicology testing. In animal models of PAH, the drug candidate prevents the elevation of pulmonary arterial blood pressure and reduces arterial hypertrophy and perivascular fibrosis. The company plans to file an IND application for C-122 in the second half of 2010.
The new firm is based in Baltimore with offices in West Conshohocken, PA.
Tags: Baltimore, Corridor Pharmaceuticals, financing, Maryland, Pharma, vascular diseases
Posted in Maryland, Money, Potomac | 1 Comment »
Wednesday, June 16th, 2010
 COLUMBIA, MD – CSA Medical Inc. from the Emerging Technology Center, Baltimore, won the life science company Maryland Incubator Company of the Year Award, while Moodlerooms Inc., of the Technical Innovation Center, Hagerstown, won the award in the IT category.
The Maryland Department of Business and Economic Development, the Maryland Technology Development Corp., RSM McGladrey Inc. and Saul Ewing LLP named the winners of the tenth annual Incubator Company of the Year ceremony in Baltimore Tuesday evening.
Winners:
Life Science Company of the Year – CSA Medical Inc. (Emerging Technology Center, Baltimore) Created the CyroSpray Ablation System, a novel, Food and Drug Administration (FDA) cleared energy based medical system that allows physicians to have the ability to quickly and easily freeze, destroy and remove unwanted tissue, freeing patients from discomfort and worry. www.csamedical.com
Information Technology Company of the Year - Moodlerooms, Inc. (Emerging Technology Center, Baltimore) Created the world’s most widely used open-source learning management system (Moodle) that offers educators fully supported, feature-rich learning management tools at a fraction of the cost. www.moodlerooms.com
Technology Service Company of the Year – B&D Consulting, Inc. (Technical Innovation Center, Hagerstown) A veteran, Small Business Administration (SBA) certified 8(a) small disadvantaged business founded by security engineers and information security professionals with more than 20 years experience in providing security services and solutions for both government and Fortune 500 organizations.
New Incubator Company of the Year – Kempbio, Inc. (Frederick Innovative Technology Center, Inc.) Specializes in the production of recombinant protein expression services which is used in the areas of drug discovery, vaccine research and diagnostic assays. http://www.kempbioinc.com
Technology Transfer Company of the Year – FlexEl, LLC (Technology Advancement Program, University of Maryland College Park) Commercializing a low-cost, high energy density power source for use in devices that require thin, safe, lightweight and flexible batteries. www.flexelinc.com
Homeland Security Company of the Year – Lookingglass Cyber Solutions (Emerging Technology Center, Baltimore) A cyber security software company delivering vision awareness and intelligence beyond the traditional boundaries to protect enterprise networks and critical infrastructure. The company’s core product, ScoutVisionTM, monitors impacts to critical communications networks during cyber attacks, power outages, terror attacks and natural disasters. www.lgscout.com
Graduate Company of the Year – Get Real Consulting (Graduate of Shady Grove Innovation Center) Provides customized solutions to make cutting-edge technology user friendly through a cooperative approach to project management. The company has worked with clients such as the American Heart Association, American Cancer Society, Planned Parenthood and Kaiser Permanente to develop web applications that give patients more control of their personal health records. getrealconsulting.com
Green Company of the Year (new category for 2010) – Clean Currents (Rockville Innovation Center) Provides area businesses, residents, and institutions with innovative green solutions to today’s most pressing environmental and energy challenges. www.cleancurrents.com
Robert A. Spar Hall of Fame – Ception Therapeutics (Shady Grove Innovation Center) A biopharmaceutical company that discovers, develops and commercializes novel products to address areas of unmet medical needs. It offers Reslizumab for eosinophilic inflammatory conditions. The company also provides Anti-TNF, a class of small molecule anti-TNF receptor agents with the potential to be orally administered. As of April 5, 2010, Ception Therapeutics, Inc. operates as a subsidiary of Cephalon Inc. www.ceptiontx.com
Tags: Ceptioan Therapeutics, CSA Medical, DBED, FlexEl, Get Real Consulting, incubator company of the year awards, Kempbio, Maryland, Moodlerooms, TEDCO
Posted in Events, Internet/New Media, IT, Maryland, Potomac | Comments Off
Wednesday, June 16th, 2010
 GAITHERSBURG, MD -Broadsoft, which sells VoIP application software to the telecom industry, priced 7.5 million shares of its initial public offering of stock at $9 each, the low end of its $9-$11 offering range to raise about $67.5 million, giving it an initial market cap of approximately $221 million.
It will trade on Nasdaq under the symbol “BSFT.”
The venture-backed company raised about $76 million from investors who include Bessemer Venture Partners, Grotrech Ventures, Charles River Ventures, Columbia Capital, RRE VEntures, Crescendo Ventures and Meritech Capital Partners.
Tags: IPO, Maryland, telecom, VoIP software
Posted in IPOs, IT, Maryland, Potomac, Telecommunications | Comments Off
Thursday, June 10th, 2010
 GAITHERSBURG, MD – Ron Laufer, M.D., has been appointed senior managing director of MedImmune Ventures, the company’s venture capital arm. Laufer’s appointment will strengthen MedImmune’s long-term commitment to supporting scientific innovation through strategic venture capital investments.
As both a physician and a venture capitalist, Laufer brings more than 15 years of experience to MedImmune Ventures.
He was a co-founder of Lilly Ventures, Eli Lilly and Company’s corporate venture capital fund. Ron was also a managing director for Visium Asset Management, a healthcare-focused investment firm, where he established the firm’s venture capital team.
MedImmune, the worldwide biologics unit for AstraZeneca PLC (LSE: AZN.L, NYSE: AZN), has approximately 3,300 employees worldwide and is headquartered in Gaithersburg, Maryland.
Tags: Biotech, Maryland, MedImmune Ventures, Pharma, Ron Laufer, venture capital
Posted in Maryland, People, Potomac | Comments Off
Thursday, June 10th, 2010
 BETHESDA, MD – Koolspan, a company developing and selling technology to establish secure Ethernet connections between points on networks, has raised $9.5 million in equity, according to a regulatory filing.
TWJ Cpaital, Ro9se Tech Ventures, Cisco Systems and Security Growth Partners are cited in the filing with the U.S. Securities and Exchange Commission.
Koolspan closed a $7.1 million round two years ago.
Its TrustChip hardware product works with its software to guard network traffic.
Tags: financing, IT, Koolspan, Maryland, network security
Posted in IT, Maryland, Money, Potomac | Comments Off
Wednesday, June 9th, 2010
 SILVER SPRING, MD – Austin-based 21st Century Technologies, a cybersecurity firm, has bought Silver Spring, MD-based NetflowData, which sells network security solutions. Financial details of the deal were not disclosed.
NetFlowData’s four employees will remain based in the Potomac area.
21st Century, which also has offices in San Antonio, plans to expand from government work to the private sector. It currently helps protect Air Force computers from cyber attacks at Lackland Air Force Base.
Tags: 21st Century Technologies, Acquisitions, cybersecurity, Maryland, NetflowData
Posted in Acquisitions, Government/Defense, IT, Maryland, Potomac, Security | Comments Off
Thursday, June 3rd, 2010
 OWINGS MILL, MD- Nora Therapeutics Inc., which is developing therapeutics to address issues in womens’ reproductive health, has raised $2.93 million of a financing targeted at $25.1 million, according to a regulatory filing.
Investors so far include Burrill Life Sciences Capital Fund of San Francisco; Prospect Venture Partners III of Palo Alto, CA; Vivo Ventures Fund VI, Palo Alto.
Nora Therapeutics raised $25 million from Burrill, Prospect Venture Partners and Vivo Ventures in 2008.
We always like to see West Coast venture firms investing in East Coast companies. So much venture capital sits in those West Coast VC firms.
Nora is developing products to help women who experience repeated assisted reproduction failure or recurrent miscarriage. It was housed at the Emerging Technology Center in Baltimore in 2004.
We previously incorrectly listed Amicus Therapeutics as an investor but the only connection between Amicus and Nora is that Don Hayden is a board member of both companies.
Tags: Amicus Therapeutics, Burrill Life Sciences Capital Fund, financing, Maryland, Nora Therapeutics, Pharma, Prospect Venture Partners, Vivo Ventures Fund
Posted in Maryland, Money, Potomac | Comments Off
Tuesday, May 25th, 2010
 ROCKVILLE, MD – PrestoSports, which sells a Web content management tool to college and university sports organizations, has raised $100,000 of a $400,000 equity offering, according to a regulatory filing.
The company raised the money from two investors, according to the filing with the U.S. Securities and Exchange Commission.
PrestoSports helps its clients with Web sites, ecommerce, awards nominations and balloting online, fan relationshilps, live stats so users can follow games online, a post-game workflow, and video and audio streaming options.
Its Linkedin profile says it has nine employees.
Its clients include the Atlantic Hockey Association, the Atlantic Central Football Conference, Brandeis University, The California Institute of Technology, Conference Carolinas, University of the District of Columbia, Emory University, Franklin & Marshall, University, Georgia College and State University, Harvard University, Southern Virginia University, and Tennessee Tech, among many others.
Tags: financing, Maryland, PrestoSports, Web content management
Posted in Internet/New Media, IT, Maryland, Money, Potomac | Comments Off
Monday, May 24th, 2010
 CHEVY CHASE, MD – TownFlier Inc., a company offering free online classified advertising, has raised a $500,000 round of equity from one investor, probably Novak Biddle Partners, according to a regulatory filing.
According to the filing with the U.S. Securities and Exchange Commission, principals include Philip Bronner, a general partner at Bethesda-based Novak Biddle Partners, a dirctor, and Morris Panner, president and director.
Panner has served as COO of NetwSuite Inc.’s OpenAir since 2001. He was previously an attorney with the U.S. Department of Justice in DC.
TownFlier.com presents visitors with a map of the East Coast and a place to type in a location and select a type of service. The user can then search for free ads in sections such as jobs, events, sale items, and housing. It also allows user to post free ads.
The site did not turn up any ads for cars, apartments or housing in several key cities we tried, which suggests the site is relatively new.
It appears to be a variation on Craigslist, but it may need more than $500,000 in backing to compete with that company’s well established and well known classifieds operation.
Tags: financing, Internet, Maryland, Novak Biddle Partners, TownFlier
Posted in Internet/New Media, IT, Maryland, Money, Potomac | Comments Off
Thursday, May 20th, 2010
 ANNAPOLIS, MD – Andy Jones, a veteran of Grotech and most recently Boulder Ventures, has joined Annapolis-based High Street Partners as a vice president of corporate strategy.
High Street notes that Jones brings 23 years of successful experience in venture capital, consulting, operations and engineering to the firm.
He is responsible for leading short- and long-term corporate planning, impacting business development and sales, strategic partnerships, fund raising and M&A opportunities.
He also heads the development of HSP’s new customized SaaS application to streamline client operations, scheduled for formal launch later in 2010.
Before joining HSP, Jones spent 13 years in venture capital at Grotech Ventures and then as general partner at Boulder Ventures. Prior to Grotech, Jones was with Andersen Consulting and Deloitte Consulting. He began his career as an engineer at Motorola.
High Street, which raised $6 million in financing earlier this month, sells international business services, providing a single source for the implementation and ongoing management of international subsidiaries and other entities, including registration, payroll, accounting, bookkeeping, tax compliance, advisory and HR localization services.
Tags: Andy Jones, Boulder Ventures, Grotech, High Street Partners, Maryland
Posted in Maryland, People, Potomac | Comments Off
Wednesday, May 19th, 2010
 ROCKVILLE, MD – RegeneRx Biopharmaceuticals, a company developing drugs to treat people who suffer heart attacks, plans to raise $3.9 million in an underwritten public offering of stock. The move comes on the heels of the company’s $3 million grant from the National Institutes of Health National Heart, Lung and Blood Institute, which we reported earlier this month.
The company has priced 11.5 million shares at 41 cents a share. It will use the proceeds to fund upcoming clinical trials.
RegeneRx is focused on the development of its drug, Tβ4 for tissue and organ protection, repair and regeneration. In published preclinical studies, Tβ4 has been shown to significantly reduce myocardial scar volume, regenerate myocardial tissue, and improve cardiac function after an ischemic event.
While RegeneRx is initially targeting RGN-352 for the treatment of patients who have suffered an acute myocardial infarction, or heart attack, although recent animal research suggests that this formulation may also benefit patients with multiple sclerosis and stroke
The company is planning to initiate a Phase 2 clinical trial with RGN-352 later this year.
Tags: Biotech, heart treatment, Maryland, NIH, Pharma, public offering
Posted in Maryland, Money, Potomac | Comments Off
Monday, May 17th, 2010
 BETHESDA, MD – Telcare, a company connecting chronically ill patients with their doctors via wireless, has raised $2.5 million of a targeted $4 million equity offering, according to a regulatory filing.
It is the second Maryland company developing a glucose testing product for diabetics that has raised financing this month. We reported a $10 million raise by Germantown-based Sensors for Medicine and Science just last week.
Founded in 2008, Telcare is developing a glucose meter for diabetics due for release in the second quarter 2010, that sends test results to a care management server and provides instant feedback and coaching to the patient.
The TELCARE blood glucose meter platform is based on an already FDA-cleared glucose meter platform that meets the latest standard of accuracy and offers auto-coding test strips, ultra-low sample volume, and alternate site testing.
The global market for glucose meters and strips is targeted at the more than 20 million Americans with diabetes with an $8 billion market size.
Telcare says Home glucose monitoring is universally recognized as essential to the management of diabetes and prevention of complications. A one unit reduction in A1c, the gold standard for glucose control is proven to result in a 37 percent reduction in complications and costs of care.
The company’s product has not yet been cleared by the U.S. Food and Drug Administration for sale.
The company disclosed the raise in a filing with the U.S. Securities and Exchange Commission.
Tags: financing, glucose monitor, Maryland, Medical Device, Telcare
Posted in Maryland, Money, Potomac | 1 Comment »
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