Trice Medical’s mi-eye2 can transmit images from a camera integrated into the device and project them on mobile devices
In a push to develop alternative imaging technologies, medtech companies have been developing mobile devices that are small enough to be used at the patient’s bedside or examining room with applications ranging from concussion detection to fetal exams.
Trice Medical, a Philadelphia area business, is one such company. Trice developed a needle equipped with a camera to give orthopedic physicians a better assessment of sports-related joint injuries and offer a cheaper alternative to MRIs.
Trice has raised $19.3 million in a Series C round with the goal to ramp up its sales and commercialization efforts after securing 510 (k) clearance for the mi-eye2 device in the final quarter of 2016, according to a company news release.
UK-based Smith & Nephew took a minority stake in the business and is one of a group of investors that includes Safeguard Scientifics, HealthQuest Capital, BioStar Ventures, and others.
The mi-eye2 device from Trice Medical, which won MedCity’s Best of INVEST award in the diagnostic category last year, uses a disposable optical needle with a fully integrated camera. The device produces images that can be viewed on a handheld tablet and designed to replace the use of MRI in taking these images and assessing the scope of injuries.
In response to questions, a spokesman for Safeguard said in an email that the new funding will go towards adding about 20 sales staff. To date, nearly 100 physicians use the mi-eye device in 25 states, a company news release said.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Although alternative imaging devices have been gaining traction in healthcare generally, portable ultrasound tech has been an area of interest from companies such as Clarius Digital Health to Butterfly Network. Still, ultrasound is regarded as better for viewing injuries for tendons, ligaments, muscles and nerves around joints than inside the joint.
