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3 Philadelphia-area medical firms combine for more than $1M in funding

11:42 pm by | 0 Comments

Three medical companies — a diagnostics business, an imaging company and another creating a treatment for head lice — were among nine businesses to receive a share of $1.8 million from Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP).

Topaz Pharmaceuticals, based in Horsham, received $500,000. The company is developing  a topical cream that treats head lice and is in the midst of Phase 3 clinical trials. The cream is made from ivermectin, which has been used to treat worm infestations as well as river blindness. BFTP previously invested $250,000.

Real Time Tomography, of Villanova, received $275,000. The company builds 2-D and 3-D imaging systems that can deliver clearer images faster than existing solutions and can also integrate easily into current systems. BFTP previously invested $150,000 in the company.

Molecular Detection, a Wayne-based company that recently raised $1.4 million, received $250,000. The company is raising up to $2.5 million to further develop its Detect-Ready technology, which currently tests nasal samples for MRSA, a staph infection that has become resistant to the antibiotics typically used to treat such infections. BFTP previously invested $500,000 in the company.

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Chris Seper

By Chris Seper MedCity News

Chris Seper is the CEO at MedCity Media, which publishes MedCityNews.com. He is also a senior writer at MedCity News. Reach him at [email protected]
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