Ivenix, Inc., an Amesbury, Mass.-based medical technology company, closed on the first tranche of a $50m round of equity financing.
The round was led by two new undisclosed investors, as well as participation from existing investors F-Prime Capital Partners and WuXi Healthcare Ventures, among others. The remaining tranches will be funded upon the attainment of regulatory milestones and satisfaction of other conditions.
The company intends to use the funds to pursue FDA clearance for its new technology platform, the Ivenix Infusion System, and expand its team for commercial launch.
Led by Stuart Randle, Chief Executive Officer, Ivenix is advancing the Ivenix Infusion System, which provides secure access to patient-specific infusion and pump management information, available at the place.
The user interface guides users through interactions with the pump, much like a smartphone. which is combined with new pump technology.