Boston Scientific has joined a $10m Series C round for Securus Medical, which is developing real-time, noncontact, thermal mapping systems to identify intrabody tissue temperatures.
Boston Scientific was joined by existing investors RiverVest Venture Partners, 3X5 Special Opportunity Fund and the University of Michigan MINTS program and new investor Global Cardiovascular Innovation Center.
Securus Medical has also received regulatory clearance in the US that would allow it to start selling its first product: a temperature-monitoring device intended for use on the esophagus.
The money will be used to continue product development and clinical testing.
Securus Medical Group president and CEO Steven Girouard said: “We are pleased to have Boston Scientific as an investor and a representative of Boston Scientific as a Board member. Securus Medical Group's expanded investor base now includes a world-class medical device company, top-tier venture capital funds, and world-renowned healthcare systems.”
RiverVest Venture Partners vice president and Securus Medical Group board member Karen Spilizewski commented: "This financing accelerates Securus Medical Group's technology development, and importantly it enables further validation of the Company's core technology which holds great potential to change the standard of care for esophageal temperature monitoring."
Headquartered at Cleveland Clinic's Global Cardiovascular Innovation Center, Securus Medical Group carries out its R&D operations in Massachusetts.