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Sanovas Seeks $25 Million as it Gears Up to Go Commercial
11/14/2012 7:35:18 AM
Medical device company Sanovas is looking to raise about $25 million to commercialize its next-generation Vas Zeppelin pulmonary device designed to scan, diagnose and treat lung disease in a single sitting. Sanovas gears up to go commercial. Medical device company Sanovas is looking to raise about $25 million to commercialize its next-generation pulmonary device designed to scan, diagnose and treat lung disease in a single sitting. Most startup medical device companies raise 10s of millions to research and develop their products before they even get to the commercial stage. But for Sanovas and co-founder Larry Gerrans, the 12-year journey to that point required a scant $9 million – all raised from the pulmonary device firm's founders, friends and family, Gerrans told MassDevice.com last month. "We've built the company with significant fiscal constraint. We've been very engineering-eccentric. I've been everything you can imagine, I've been in intellectual property, I've been operations, been managing the engineers," Gerrans told us. "We've grown strong, we've not grown fast. We've really paid attention to what the physicians have been asking for, getting good strong feedback from them."
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