Mirador Biomedical Closes $1.5 Million Series B Round of Funding

Published: Apr 12, 2011

Seattle, WA – February 12, 2011 – Mirador Biomedical, Inc., a privately held medical device company developing the Compass™ family of medical devices, announced today that it has closed a $1.5 million Series B round of funding. The round was supported by new and existing shareholder with participation by its leading shareholders, WRF Capital and Summit Capital. The company will use the funds to expand sales of the first two Compass products and develop additional products in the Compass platform.

Karl Schmidt, CEO commented, “With strong demand from physicians for our two FDA cleared products and the recent addition of Steve Gappa as VP of Sales, the Series B will be used to drive direct sales as we continue to explore partnering opportunities to further accelerate growth.”

Mirador Biomedical addresses a critical area of healthcare by seeking to improve patient safety and reduce costs associated with preventable medical errors that occur during many common medical procedures, like central line insertion and spinal taps.

“We chose to lead Mirador’s Series B round based on their impressive progress and highly efficient use of capital. With less than a million dollars, they obtained FDA clearance and early sales,” commented Loretta Little, Managing Director at WRF Capital. “Both the Series A and Series B rounds were oversubscribed, which isn’t too surprising given their great market feedback and clinicians’ enthusiasm for the Compass and its many potential applications.”

About Mirador Biomedical

Mirador Biomedical’s team of experienced entrepreneurs and seasoned medical device professionals are partnering with an exceptional group of physicians and scientists to develop innovative, cost effective devices that alleviate doubt and uncertainty during common medical procedures. Mirador Biomedical is a privately held company founded in 2009 in Seattle, Washington to develop the Compass™ family of medical devices.

For more information, visit www.miradorbiomedical.com

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