Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Microsulis: Firm will use $45 mil. round financing to hire 50 direct sales reps/physician educators to support full launch of Microwave Endometrial Ablation (MEA) system to treat menorrhagia. Approved last September, MEA has been slowly rolled out, awaiting funding for clinical specialists required under FDA clearance (1"The Gray Sheet" Oct. 20, 2003, In Brief). Microsulis currently is evaluating distributors for metropolitan areas. The funds also will go to support separate 510(k) applications for soft tissue ablation and peripheral vascular indications to be submitted by year-end. Existing investors contributed $20 mil. to the round, while the remaining $25 mil. came from venture capital...