OmniSonics Medical Technologies
This article was originally published in The Gray Sheet
Executive Summary
Firm nets $21 mil. in proceeds from a second round of equity financing, which closed May 30. Funds will go towards clinical trials overseas and in the U.S. evaluating the Resolution ultrasonic tissue removal system in vascular and cardiovascular applications. A portion of the funds will go toward the initial worldwide marketing efforts for the system, which is currently approved for treatment of benign prostatic hyperplasia and benign uterine disorders. Firm is in the process of obtaining IDE approval from FDA to begin trials in the U.S