Magnolia Medical Technologies Secures $13,800,000 Series B Funding

  • Feed Type
  • Date
    7/13/2016
  • Company Name
    Magnolia Medical Technologies
  • Mailing Address
    2001 Sixth Avenue Seattle, WA 98121 USA
  • Company Description
    Magnolia Medical Technologies has recently introduced the Initial Specimen Diversion Device (ISDD), a patented, Class I device registered and listed with FDA that is indicated to reduce the frequency of blood culture contamination.
  • Website
    http://www.magnolia-medical.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $13,800,000
  • Transaction Round
    Series B
  • Proceeds Purposes
    Proceeds from the financing will be used to accelerate commercialization of Magnolia Medical’s flagship product line, the SteriPath blood collection system. Funding will also support on-going development of the company’s planned roadmap of devices designed to eliminate human errors that cause false positive and false negative clinical laboratory test results.
  • M&A Terms
  • Venture Investor
    HealthQuest Capital
  • Venture Investor
    Undisclosed

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