Surefire Medical closes Series B funding round

By Marc Castro

Nov 07, 2013 02:49 PM EST

Commercial stage medical device company, Surefire Medical Inc, develops innovative infusion systems for procedures determined as minimally invasive and direct to target intervention. It had recently announced the completion of a USD18.2 million Series B funding round.

The funds would be utilized for the expansion of its product development processes, increased clinical trials, operational as well as marketing related activities. These are to address increasing growth of deman in both the local and international markets.

Surefire Medical CEO Jim Chomas said, "Thanks to the enthusiastic support of our funders we can expand our worldwide sales, particularly into the Asia-Pacific market where we recently received regulatory clearance. The funding also enables Surefire to fuel company growth with the development of our next-generation infusion system, which wil reach into the smallest vessels and further advance minimally invasive cancer treatment."

He added, "Others see the value and the promise of this groundbreaking technology as well. Although medical technology venture investing has continued its significant downward trajectory from the 2009 peak, we were able to complete the offering thanks to sophisticated Angel and Super Angel Investors with whom we have long-term relationships."

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