TechniScan closes Esaote financing

Ultrasound imaging developer TechniScan Medical Systems of Salt Lake City has closed a round of financing that brought in $13 million to the firm, most of it from Italian medical device manufacturer Esaote.

In addition to Esaote, the investment round included members of TechniScan's board of directors, as well as angel investors. The funding will enable TechniScan to complete testing of its UltraSound CT technology, and begin the next set of clinical trials required before bringing the product to market, according to the company.

The company expects the next set of clinical trials to begin in May at the University of California, San Diego, in La Jolla, and the Mayo Clinic in Rochester, MN. Commercial sales are expected to begin at the end of 2008.

Related Reading

Esaote, TechniScan partner, November 26, 2007

Esaote signs big Chinese contract, November 8, 2007

Road to RSNA, Ultrasound, Esaote, November 5, 2007

Road to RSNA, MRI, Esaote, October 29, 2007

TechniScan scores NIH grants, October 15, 2007

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