Promaxo, Inc., a Rockville, MD-based medical device developer, closed a $2.2m second tranche of Series A funding.
The round was led by MicroPort Scientific Corporation, with participation from RocSon Medtech Fund and Almond Tree Capital Fund.
The company will use the funding to advance the development of its devices.
Led by Amit Vohra, President and CEO, Promaxo provides a suite of office-based, high resolution MRI, and MR compatible guidance devices and consumables, which are designed to eliminate the complexities and costs of current prostate cancer diagnosis and treatment protocols.
Its MR technology platform is protected by over 30 issued and pending patents.