Promaxo, Inc., a Rockville, MD-based medical device company developing and commercializing a single-sided Magnetic Resonance Imaging (MRI), closed a $3.5m Series A funding.
The round was led by MicroPort Scientific Corporation. In conjunction with the funding, MicroPort will secure exclusive China distribution rights and manufacturing rights of Promaxo’s MRI technology.
The company will use the new capital to perform clinical validation and prepare regulatory submission of its office-based high-resolution MRI.
Led by CEO and President Amit Vohra, PhD, MBA, Promaxo is developing and commercializing office-based high-resolution MRI, real time MRI compatible biopsy and treatment tools, and CAD software for tissue characterization.
The company is currently focused on transforming the screening, diagnosis and treatment of prostate cancer.