Micro C raises additional $700K in seed round to complete several planned initiatives and bring their novel medical device to market.
Micro C is the company behind a novel medical device of the same name that is going to change the imaging game for healthcare providers. Micro C Co-Founder and Chief Medical Officer Dr. Greg Kolovich, an orthopedic surgeon with an engineering degree from Georgia Tech, teamed up with Evan Ruff, CEO, Georgia Tech engineer and MBA, to create the world’s first agile fluoroscopy solution incorporating the x-ray emitter with a multi-modal camera – video, still and infrared, The Micro C’s objectives are: faster imaging during surgery, safer operation including reduced radiation, and increased flexibility. With a 4.5-pound emitter and image receptor that moves in synch with it, the complete solution is ideal for surgeries of the extremities, replacing the bulky mini C-arm and large C-arm. The team has filed 8 patents to date.
The Micro C team engaged GCMI to provide critical insights on the design and development of the technology as it relates to FDA requirements for an electromagnetic system with a software component. The goal: accelerate Micro C’s time from concept to commercialization.
Announced earlier this year via the GT News Center, Kolovich and Ruff have raised an additional $700,000 in a pre-Series A funding round following $260,000 raised in the seed round in 2016.
“At our sessions with orthopedic surgeons and ambulatory surgery center management, the feedback is consistent: They want to use the Micro C as soon as commercially available,” said Kolovich, who is an orthopedic hand and micro-surgeon. “They are impressed with how we have incorporated multiple innovations into a compact digital X-ray and multimodal camera that also integrates real-time, HIPPA compliant, data and image transmission together with accurate billing and much greater accuracy, clarity, safety, and speed.”
According to the article, “Micro C … will leverage the additional funds to complete several planned initiatives. Among them: a prototype build, beta testing, submission to the Food and Drug Administration, and go-to-market launch activities including demonstrations at leading professional academies for orthopedic surgeons.”
GCMI is proud to be a part of the ongoing initiatives that this funding will bring as we work with the team to guide them through the medical device developmental pathway. We are currently working with Micro C to create the design history file to ensure it meets FDA requirements for Class II 510K devices.
The system converts radiation to real time static and dynamic fluoroscopic images of the human skeleton as well as providing high quality digital pictures and video of surgical anatomy and pathology. All images are then displayed on a monitor and can be wirelessly transferred from the Micro C to the screen for review by the surgeon.
“As a solution combining hardware and software innovations, the Micro C commercialization process, especially design development, is complex,” says Dershika Patel, Senior Project Engineer for GCMI. “We know how important the design history files are to satisfying FDA requirements, and getting the device to market in a timely, capital-efficient way. We are making sure that the design history file requirements are being satisfied without inhibiting the design team’s progress.”
GCMI will support the Micro C team through commercialization and marketplace entry with a groundbreaking solution that intends to change the game in mobile medical fluoroscopy and imaging. Early feedback from orthopedic surgeons and ambulatory service center and hospital managers has been highly encouraging, such as at the Micro C’s demonstration at the 10,000+ attendee American Academy of Orthopedic Surgeons (AAOS) meeting exhibition in March of this year. U.S. and international medical professionals alike were keenly interested in beta testing and availability.
We want to extend a huge congratulation to the Micro C team- and are excited for the work that is still to come.
Are you a physician innovator or engineer seeking a quality partner to help guide your novel medical device from concept to cure through preclinical and then commercialization? GCMI and our preclinical CRO T3 Labs have value-based initiatives and programs for innovators and companies at any stage in their process from concept to commercialization be it our Launch Seed Fund, Medtech Accelerator, Design, Preclinical Testing and Bioskills Training. Contact GCMI today to learn more about the robust medical device ecosystem and the Southeast’s available resources for innovators.