LSGPA Portfolios Secure Funding for Future Growth
Life sciences companies often require a lot of capital to get to market, Life Sciences Greenhouse of Central Pennsylvania (LSGPA) is pleased to announce that several companies within the portfolio recently closed successful rounds of follow\-on fundingAny funding that comes into the company after LSGPA's investment. May include money from grants, friends and family, angel investors, or venture capital firms. for the purpose of accelerating product development. LSGPA congratulates the following companies for securing the capital critical to their growth.
The newest member of the LSGPA portfolio, Micro Interventional Devices, Inc. (MID), is an emerging cardiovascular medical device company based in Bethlehem, PA that is developing solutions for structural heart repair procedures. The company’s lead technology is Permaseal™, the first device of its kind enabling sutureless cardiac access and closure. With the $500K bridge financing in place, MID plans to initiate the first-in-man clinical study of the Permaseal™ device. To learn more, visit www.microinterventional.com.
Maculogix, Inc. (previously known as Apeliotus Vision Science Inc.) is also a medical device company. The Hershey, Pa.-based company raised $2.92 million in a Series A Round. Maculogix develops tools for early diagnosis of age-related macular degeneration AMD). Its screening tool called AdaptDX helps doctors identify individuals at the earliest stages of AMD and track the disease for treatment.
Strategic Polymer Sciences, Inc. (SPS) secured $1.1M on a bridge round, enabling them to accelerate product prototype, and further strengthen the company’s IP position. SPS, based in State College, PA is an R&D company specializing in advanced thin-film polymers that can carry an electrical charge. The technology has applications across a broad range of industries, including medical devices, energy and defense. For additional information on SPS, go to www.strategicpolymers.com.
To date, LSGPA has invested $375K in MID, $1M in MacuLogix and $1M in SPS. Additional follow-on funding totaling $13.2M has been received as a result of these investments.