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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Boston Medical Technologies: Private placement valued at $22.6 mil. brings to $38 mil. the total raised by the start-up since July 1998. Funds will be used for expansion efforts to meet "growing demand" for the Wakefield, Massachusetts firm's Anscore system for measuring diabetic patients' heart rate variability during physician office visits, BMT says. The non-invasive device was initially cleared via 510(k) in June 1999, with subsequent clearances in August 2000 and April 2001 expanding system parameters. "Extensive published clinical data reports that heart rate variability testing can be used as an indicator of autonomic nervous system dysfunction - a deadly but initially asymptomatic condition prevalent in people with diabetes," BMT explains. Prism Venture Partners led the third-round financing...

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Financings In Brief

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Remon Medical Technologies: Waltham, Mass. concern announces close of oversubscribed $26 mil. Series C financing, which will help expand U.S. presence of its wireless, intra-body communication technology for use in therapeutic products. First-time investors in the financing round include Guidant, Triathlon Medical Ventures and Medica Venture Partners. Guidant previously incorporated Remon's interactive sensor technology into its Ancure abdominal aortic aneurysm endograft (1"The Gray Sheet" Feb. 18, 2002, In Brief). Other major Remon financiers include Polaris Venture Partners, Concord Ventures, Lilly Ventures, KBL Healthcare Ventures and Ofer Hi-Tech. The privately held firm intends to commercialize its communication technology through a mixture of internal efforts and external strategic collaborations. Remon is now conducting clinical trials of its Impressure device, which offers an on-demand, non-invasive way to monitor intra-aneurysm pressures after endograft procedures. The firm's HeartLook device for measuring pulmonary artery pressure is also under investigation...

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