Smith & Nephew gets in on $19m Trice Medical Series C (MassDevice)
Trice Medical said today it closed a $19.3 million Series C financing round, joined by major player Smith & Nephew (NYSE:SNN), with funds slated to support US market penetration of its mi-eye2 orthopedic diagnostic device.
Newly invested Smith & Nephew was joined by Safeguard Scientifics, HealthQuest Capital, BioStar Ventures and other unnamed returning investors in the round. The U.K.-based company said it has raised $40.9 million to date.
“This is a significant milestone for Trice Medical as we looking to expand our sales, marketing and commercialization efforts and bolster our workforce. We’re proud to add Smith & Nephew to our list of investors and look forward to being able to leverage their global experience as we roll out additional mi-eye products in the future,” Trice CEO & prez Jeffrey O’Donnell, Sr. said in a press release.
Trice won FDA 510(k) clearance for the mi-eye2 during the 4th quarter last year. The device is designed with a disposable needle embedded with a wide-angle camera lens to allow physician to diagnose joint injuries in the office, without need of an MRI, the company ...
