Diagnostic Device Maker Of Cambridge Lands With New Funding

A health care technology company concentrated on diagnostics has gained an additional boost in terms of funding thereby securing $27 million from equity financing.

As per the regulatory files, the funding is only $13.9 million which Waveguide Corp headquartered in the location of Cambridge had informed in the month of April. About 197 investors have taken part in that equity financing.

 About Isaac Blech:

The company also incorporates one of the successful investors named Isaac Blech as one among its board of directors. Blech has several stock holdings in at least 5 of his public companies comprising of ContraFect, RestorGenex, Medgenics, SpendSmart Networks as well as Cerecor. Moreover, he is also considered as the top most pioneer in the industry of biotechnology.

Bleach is a leading biotechnology entrepreneur as well as investor who age is now 61 have joined the company’s board of directors. He also served as strategic advisory board till the period of February 2011 and he is considered to be the major investor of the company to invest about $ million in the company in the past year. The Medgenics directors at present have seven members.

According to the view of Reuters, Blech had assisted several seven companies by his fund and all those companies are brought out by public and which have a total value of more than $30 million.

Serve As Shareholder And Director:

Mr. Blech is one of the most successful private financiers in the biotechnology industry. As an industry pioneer, he founded seven companies, all of which were subsequently brought public. These include Celgene Corporation, Genetic Systems Corporation, Icos Corporation, Nova Pharmaceuticals Corporation and PathoGenesis Corporation. These companies are responsible for major advances in a number of diseases including the diagnosis and/or treatment of cancer, chlamydia, sexual dysfunction, cystic fibrosis and AIDS. Their combined value is in excess of $30 billion.

Mr. Bleach is a vast shareholder as well as director of the Socialwise, Inc and he is also an innovator of the e-commerce market. Moreover, he is also considered to be the shareholder of various public companies like Stratus Media Group and Premier Alliance Group.

The company which is based upon the Cambridge innovation center concentrates on commercializing with handheld diagnostic device which employs similar imaging software like that of MRIs as per the health IOS Xchange.

It is called as nuclear magnetic resonance of spectrometer and this technology is utilized to diagnose ovarian cancers and tuberculosis. The company executives has not respond for the calls for comment.

Pallavi Tiple writes news on industry, businesses, technologies, media, and current affairs and also produces the content on daily basis regarding latest trends, markets, promotions, and events for Medical Device News. She enjoys reading and painting in her leisure time.

She can be reached at pallavi@medicaldevicenews.net