iNTELOMED Snags $2.6 Million in Funding Round
Published: Jun 10, 2011
INTELOMED Inc., a developer of a noninvasive system to measure cardiac health, has raised $2.6 million in its first formal external financing round. The company, which plans to submit its product for Food & Drug Administration approval in late 2011, will use the money to get through that process and then, ideally, put it toward commercialization, said CEO Frank Amoruso. “It took a little longer than I would have hoped,” said Amoruso, a veteran of TowerCare Technologies, HyperActive Technologies and TechRx Inc. He began working with iNTELOMED on a part-time basis in October to raise capital and came aboard.