Michael Barbella, Managing Editor10.20.22
US Medical Innovations LLC (USMI), a subsidiary of US Patent Innovations LLC, has secured a $10.2 million private placement deal from multiple sources including existing partners and new investors.
USMI will use the funds to ramp-up manufacturing of its newly-released Canady Plasma XL-1000 SMART Electrosurgical Generator (XL-1000) and support the development and release of its Canady Helios Cold Plasma Generator (CHCP) and robotic delivery system for the selective treatment of cancer.
“We are pleased to have closed this round of private financing at such a critical time in our development efforts," CEO Dr. Jerome Canady said. "We see this investment by seasoned investors as a strong vote of confidence in our mission to develop disruptive technology that will change the landscape of electrosurgery and cancer therapy.”
In April 2021, USMI completed the first U.S. Food and Drug Administration-IDE-approved clinical trial to evaluate cold atmospheric plasma (CHCP) for cancer treatment and the company currently is preparing to launch several Phase II multi-center international trials starting in the first quarter next year. The company has recently released its new XL-1000 featuring Canady Hybrid Plasma Technology, a high-definition touchscreen, built-in surgical Apps, and a variety of safety and security features. Hybrid Plasma electrosurgery technology is used in more traditional surgeries such as hip and knee replacements.
“This investment, along with our additional sales revenue will allow us to continue to develop and refine our cold plasma technology for treating cancer as well as progress with our strategic plans for a 2023 IPO,” Canady said.
US Medical Innovations LLC (USMI) is a private U.S. biomedical device company that develops advanced affordable plasma and robotic electrosurgical devices.
USMI will use the funds to ramp-up manufacturing of its newly-released Canady Plasma XL-1000 SMART Electrosurgical Generator (XL-1000) and support the development and release of its Canady Helios Cold Plasma Generator (CHCP) and robotic delivery system for the selective treatment of cancer.
“We are pleased to have closed this round of private financing at such a critical time in our development efforts," CEO Dr. Jerome Canady said. "We see this investment by seasoned investors as a strong vote of confidence in our mission to develop disruptive technology that will change the landscape of electrosurgery and cancer therapy.”
In April 2021, USMI completed the first U.S. Food and Drug Administration-IDE-approved clinical trial to evaluate cold atmospheric plasma (CHCP) for cancer treatment and the company currently is preparing to launch several Phase II multi-center international trials starting in the first quarter next year. The company has recently released its new XL-1000 featuring Canady Hybrid Plasma Technology, a high-definition touchscreen, built-in surgical Apps, and a variety of safety and security features. Hybrid Plasma electrosurgery technology is used in more traditional surgeries such as hip and knee replacements.
“This investment, along with our additional sales revenue will allow us to continue to develop and refine our cold plasma technology for treating cancer as well as progress with our strategic plans for a 2023 IPO,” Canady said.
US Medical Innovations LLC (USMI) is a private U.S. biomedical device company that develops advanced affordable plasma and robotic electrosurgical devices.