Garwood Medical Devices, a Buffalo, N.Y.-based developer of medical device technology, raised $4m in Series C financing.
The round was led by The Murray Family, with a $600k investment.
The company intends to use the funds to conduct additional preclinical testing for its BioPrax™ device.
Founded in July 2014 and led by Wayne Bacon, CEO, Garwood Medical specializes in healthcare innovation and holds the exclusive license for the core BioPrax technology developed by the University at Buffalo. The company currently holds 10 registered and pending patents.
BioPrax is a minimally invasive device currently under investigation to evaluate whether it can help eliminate biofilm infections on prosthetic joints during early-intervention procedures. The FDA granted BioPrax Breakthrough Device Designation October 11, 2019, for products that may provide more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. BioPrax swine studies are expected to begin in September and first in-human studies in the third quarter of 2021.