Financings in Brief: Micro Therapeutics, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Micro Therapeutics, Inc.: Newly formed Genyx Medical subsidiary focusing on treatment of urologic and gynecologic disorders says it is "currently seeking an initial round of financing." Funding would be used to support product development, completion of preclinical testing of Micro's Embolyx polymer as a urethral bulking agent for incontinence under a cross-licensing agreement, "and initiation of human clinical trials." Heading the new unit as president and CEO will be Thomas Berryman, Micro's current chief financial officer. Embolyx, which consists of a biocompatible polymer and contrast agent dissolved in a solvent carrier for injection into the body, is currently under development by Micro for neurointerventional applications ("The Gray Sheet" Nov. 24, In Brief)...