KitoTech Medical Holds First Closing of $2M Series B Financing

KitoTech Medical, a Seattle, WA-based medical device company,completed the first close of approximately $2M of its Series B Round where there is the potential to raise a total of $6M.

The proceeds from the financing will be used to:

  • increase commercial efforts in the medical market to increase the use of and drive sales of its microMend┬« family of wound closure products,
  • increase sales of its consumer products by expanding into additional channels,
  • build its medical sales organization to market and sell microMend products to increasing numbers of physicians, hospitals, and clinics, and
  • introduce its products into a broad spectrum of clinical specialties, including orthopedics, obstetrics and gynecology, and surgery.

Led by Dr. Ronald Berenson, President and CEO, KitoTech Medical is a medical device company that has developed and commercialized microMend, a patented wound closure product, which consists of an array of miniature stainless steel staples (Microstaples) attached to an adhesive backing that combines the holding strength of a suture with the simplicity of applying a bandage. It is designed to provide medical personnel with an option for closing lacerations, skin tears, surgical incisions, and other wounds.

FinSMEs

07/12/2021