News | February 12, 2008

PolyRemedy Raises $25 Million for Wound Care Using Robotics, Nano-Technology

February 13, 2008 – PolyRemedy Inc. said this week it closed a $25 million investment from leading venture capital firms to manufacturer of a robotic system for the delivery of nano-material based wound dressings at the point-of-care.

The Series B financing was co-led by Advanced Technology Ventures (ATV) and IDG Ventures Boston and included participation from Series A investor, MedVenture Associates and new investor Harris and Harris Group, Inc. New York.

The PolyRemedy system enables clinicians to quickly and cost-effectively provide custom-made, unit of use wound dressings to patients with chronic wounds such as diabetic ulcers. The company says the system will enable the capture and monitoring of patient data to refine clinical protocols, control costs and demonstrate evidence-based improvements in wound heal rates over time.

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