Devices & Diagnostics

California company raises $3 million to further commercialize device that gives colonoscope extra view

  Avantis Medical Systems, Inc., the Sunnyvale, Calif. based creator of the Third Eye Retroscope–a device that adds an extra view to a colonoscope, has raised $3,048,468 of venture capital to further commercialize its flagship product in the U.S., make small improvements to the product, as well as using  a “little bit” work toward earning […]

 

Avantis Medical Systems, Inc., the Sunnyvale, Calif. based creator of the Third Eye Retroscope–a device that adds an extra view to a colonoscope, has raised $3,048,468 of venture capital to further commercialize its flagship product in the U.S., make small improvements to the product, as well as using  a “little bit” work toward earning a CE Mark in Europe, President and CEO Tony DiTonno said.

The company, in Series D funding, seeks about $4.95 million more, according to the regulatory filing it made with the SEC.

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DiTonno said he expects the company to be acquired in 18 months to two years.

The officers and directors listed on the filing include DiTonno, who previously served as CEO for NeurogesX and LifeSleep; Director Dr. Thomas Fogarty; former Director Matthew Jenusaitis; Director Dr. Camran Nezhat,  a general partner at CN Investment; Director Howard Palefsky, managing director at Montreux Equity  Partners; and Director Dr. John Savarese, also a managing director at Montreux Equity.