Financings in Brief: First Medical, Inc.
This article was originally published in The Gray Sheet
Executive Summary
First Medical, Inc.: Development-stage firm completes a $7 mil. round of venture financing. Based in Mountain View, California, privately held First Medical is engaged in developing "clinical decision-making systems which will provide rapid, on-demand (STAT) information to be used for more cost-effective management of patients with potentially life-threatening conditions," the company says. The firm's first initiative is to develop a system for diagnosing myocardial infarction in patients presenting with chest pain. Funds from this offering will enable First Medical to "continue development, and to initiate clinical trials and manufacturing" of the cardiac marker system, the company says. Burr, Egan, Deleage & Co. were lead investors; others participating included Marquette Venture Partners, Piper Jaffray Ventures, InterWest Partners, and Mohr, Davidow Ventures...