Healthcare Industry News: S Series
News Release - January 27, 2011
PhysioSonics Completes Series B Funding
Kirby Cramer, Retired Chairman of SonoSite, Co-Invests and is Named Chairman of PhysioSonics, Inc.SEATTLE--(Healthcare Sales & Marketing Network)-- PhysioSonics, Inc., an innovator of noninvasive neurologic monitors, announced today the closure of itS Series B financing in which Kirby Cramer, former Chairman of SonoSite (NASDAQ:SONO ), Co-led along with a strategic investor from Series A.
The company will use the proceeds to commercialize its noninvasive neurology/cardiology monitor through the FDA approval process.
PhysioSonics named Kirby Cramer as Chairman of the Board replacing founder Robert Frederickson Ph.D. who maintains his seat on the Board.
Kirby Cramer, 74, in August 2010 retired as Chairman of SonoSite holding that position for 12 years. Prior to that Mr. Cramer was a director of Immunex sold to Amgen (NASDAQ:AMGN ) in 2002. He was also CEO of Hazleton Laboratories now part of Covance (NYSE:CVD ).
“With the infusion of new capital and a Chairman with a wealth of experience in the med-tech space, as well as building and growing companies, we are moving forward with our commercialization," said Brad Harlow, President& CEO of PhysioSonics.
About PhysioSonics, Incorporated
PhysioSonics is a medical device company that has developed a non-invasive system for neuro-monitoring with proprietary technology and IP. Its product line provides improved management for traumatic brain injury, brain hemorrhage and interoperative monitoring in both cardiology and neurology. Its founders include Robert Frederickson Ph.D., Michel Kliot M.D., Pierre Mourad, Ph.D., and Jeffrey Jarvik, M.D., MPH who developed the technology at the University of Washington.
Source: PhysioSonics
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