LA-based medical device firm Bruin Biometrics has raised $10 million in funding. The investors in this round were not named. According to the company, the financing will be used for marketing, clinical trials and research and development.
LOS ANGELES–(BUSINESS WIRE)–Bruin Biometrics, LLC (“BBI”), a medical device company with two biometric sensing products ready for market in Europe and the United States, announced it has closed a $10 million round of funding which was oversubscribed by almost $2.7 million. The funds will be deployed to market the developed products, complete clinical trials and continue R&D on the product pipeline.
“Investors are responding to this important opportunity ideally timed to solve critical issues that cost healthcare systems globally billions of dollars in expensive, preventable diagnostics and treatments. BBI’s biometric scanning technology is proven and ready to improve patient care simply and inexpensively,” said BBI’s Chief Executive Officer Martin Burns. “Investors, physicians and hospitals understand these sensors detect a number of key health conditions. They soon will become another essential tool used by nurses and other healthcare workers to check a patient’s vitals, just as the blood pressure cuff is used today.”
BBI previously completed two initial rounds of funding for $4 million.
To learn more about BBI please visit www.bruinbiometrics.com.
Bruin Biometrics (BBI) is relentlessly committed to using technology to improve the way that health care is delivered. By developing innovative biometric medical device systems that can cost-effectively detect and monitor select medical conditions with urgent clinical need, BBI is helping inform clinical decisions, simplify patient care, and improve patient outcomes. BBI has developed the SEM Scanner, a revolutionary wound care diagnostic medical device to detect the inflammatory changes associated with pressure induced tissue damage. BBI’s second product, the OrthoSonos is an innovative medical device to diagnose and spot monitor the health of joints and prosthetic implants. The SEM scanner has been CE Mark approved in the EU and is currently in full commercial launch. OrthoSonos is on track for commercial launch in Q4, 2014.