Printer Friendly

MEDICATION DELIVERY DEVICES INC. COMPLETES $3.0 MILLION FINANCING ROUND

 SAN DIEGO, April 18 /PRNewswire/ -- Medication Delivery Devices Inc. (MDD) announced today that it has raised approximately $3.0 million in its recent investment round, bringing total invested capital to $4.0 million. The funds will be used to roll out MDD's new controlled pressure infusion system designed for use in home and alternate site care locations.
 This new system, which has been submitted to the Food and Drug Administration for marketing approval, is the latest in easy-to-use, cost effective health care technology. Funds from this round of financing will also be used to continue product development on other elements of the company's infusion devices product line and establish a manufacturing operation for their new maxx(TM) infusion system.
 The venture capital syndicate of Sorrento Associates and Ventana of San Diego, along with Ventures Medical Associates of Houston, were joined by a number of the original MDD investors who extended their investment.
 San Diego-based Medication Delivery Devices Inc. is a privately held medical device manufacturer focusing on the home alternate site infusion therapy market. The company has developed a unique, patented approach to infusion therapy called "controlled pressure technology." This innovative infusion system is ideally positioned in terms of cost and ease of use for the rapidly growing home health care arena. Responsive, forward looking companies, such as MDD, are likely to emerge as leaders in the new health care market of the 90s.
 -0- 4/18/94
 /CONTACT: Phillip C. Thomas, president & CEO, of Medication Delivery Devices, 619-535-0828/


CO: Medication Delivery Devices Inc. ST: California IN: MTC SU: FNC

JB-JP -- SD002 -- 7558 04/18/94 09:16 EDT
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 18, 1994
Words:269
Previous Article:NORTHERN ALBERTA GOLD EXPLORATION PROGRAM ANNOUNCED
Next Article:ALDUS RECEIVES SECOND REQUEST FROM THE FEDERAL TRADE COMMISSION
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters