ProUroCare Medical, which makes a prostate cancer scan and imaging system, is seeking $2.5 million.

Maker of Prostate Cancer Screening Imaging Device Seeks $2.5 million

ProUroCare Medical, which makes a prostate cancer scan and imaging system, is seeking $2.5 million, according to a recent filing with the Securities & Exchange Commission

It has already raised $50,000.

 

The ProUroScan Prostate Imaging System comprises a rectal probe with sensors with related software to provide a real time color image of any abnormalities in the prostate. The FDA cleared the device in April 2012 as a single-use, disposable device but the company is currently working with the FDA to file a second 510(k) so that it can be used multiple times. That will facilitate market adoption, according to the company's website.

ProUroCare is a public company. The last available financial filing with the SEC shows that in the quarter ended Sept. 30, ProUroCare narrowed its loss to $478,643 or 3 cents per share from $530,798 or 3 cents per share in the same period in 2011.

Since January 2007, the company has raised $13.9 million. ProUroCare Medical is led by Richard Carlson, chairman and CEO, who has worked at various medical device companies including SurModics, Medtronic, C.R. Bard and American Medical Systems.

-- By Arundhati Parmar, Senior Editor, MD+DI

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