STD Med, Inc. Launches Third Start-Up Company
STOUGHTON, Mass., Jan. 9 /PRNewswire/ -- STD Med, Inc. announces the closing of the first round, series A preferred stock financing, for Spirus Medical, Inc. Spirus Medical, Inc., http://www.spirusmedical.com, specializes in the utilization of a patented helix technology for ease of access in the gastrointestinal (GI) tract, and like products for other areas of the body. The round, $5.9 Million, was raised through STD Med's network of qualified investors, Point Judith Capital, BioVentures Investors and Village Ventures. Boston Equity Advisors, LLC served as placement agent for the offering. Spirus Medical's first product, the disposable EndoEase system, simplifies the insertion and advancement of colonoscopies into and through the colon by utilizing the company's patented "rotate-to-advance" technology. Spirus Medical received FDA 510(k) clearance in September 2005 to market its first product.
Spirus Medical, Inc. is the third medical device technology company formed and incubated by STD Med, Inc. STD Med's first two spin-offs were AngioLink Corporation, a femoral closure technology company recently acquired by Medtronic, and ArthroSurface, Inc., an orthopedic company with a novel technology for resurfacing cartilage damage to articulating joints.
"After 54 years in business, STD Med has finally identified its true niche as an Innovator of Medical Technologies," said Steven Tallarida, President of STD Med, Inc.
STD Med recently moved into a newly renovated 70,000 square foot state-of- the-art medical device manufacturing facility in Stoughton, MA, and employs over 170 people in the local community.
"It is our intent to leverage our skills as a medical device manufacturer, to allow us to bring new technology to market every 14-16 months," commented Andrea Patisteas, Vice President of Sales and Marketing.
STD Med, Inc. is a rapidly growing and emerging leader in the development and manufacture of medical devices. The company is registered with the FDA and certified to quality management standards ISO 9000 and ISO 13485.
Steven Tallarida President STD Med, Inc. 508-728-0795 stallarida@stdmed.com
STD Med, Inc.CONTACT: Steven Tallarida, President of STD Med, Inc., +1-508-728-0795,stallarida@stdmed.com