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

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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 runs MedCityNews.com and contributes regularly to the site. He is the vice president of healthcare for Breaking Media, MedCity's corporate owners. Reach him at [email protected]
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