Littleton, CO and Seattle, WA – Apr. 4, 2013
dBMEDx™, Inc., a privately held automated wireless medical device company, announces the closing of a fully subscribed capital raise of $1.1 million through a sale of common stock, the company’s second successful capital raise.
The proceeds will be used to complete development of the company’s first product, the Benchmark Bladder System™, a fully automated and non-invasive bladder volume measurement device utilizing the company’s hand-held scanning technology. Bladder volume measurement is a well-established metric used in the diagnosis and treatment of a wide range of medical conditions, including urinary tract infections (UTI), the second most common type of infection in the body. UTI’s account for about 8.1 million visits to health-care providers each year and over $1.6 billion in annual medical costs.
The dBMEDx product ofers a number of advantages over competing devices, including a lower total cost of ownership and improved ease of use.
“We are very pleased with the level of interest in dBMEDx™ as evidenced by the rapid closure of our second round of funding,” said David Shine, CEO of dBMEDx™. “The company is now wellpositioned to bring the first device in our pipeline through FDA clearance and move toward initial revenue.”
The annual market for automated bladder measurement devices is currently estimated at $150 million with a history of steady growth.
About dBMEDx, Inc.
dBMEDx is a medical device company that is developing novel, automated scanning devices for a wide range of medical applications. The company has developed the world’s smallest, wireless 3D ultrasound scan engine with integrated image analysis capability. This device architecture overcomes many of the limitations of traditional imaging technology to create devices that can be used with very little training by any medical professional. The patented dBMEDx architecture automatically collects and analyzes the image data and wirelessly presents the user with a numeric result, bringing the power and safety of ultrasound-based diagnosis to all medical professionals. For additional information, please visit www.dBMEDx.com.
David Shine, CEO