Tuesday, June 3, 2008

PhysioSonics Raises $4M

Seattle-based PhysioSonics said this morning that it has raised $4.0M in a Series A funding. The funding came from Johnson & Johnson Development Corporation. The firm, formerly known as Allez PhysiOnix, is developing medical devices for neural monitoring, based on ultrasound, developed at the University of Washington. According to PhysioSonics, the funding will go towards commercialization of the company's first product. The firm, in conjunction with the deal, that it has provided common shares in the firm to Verasonics, which is based in Redmond. PhysioSonics said that it has partnered with Verasonics to develop and commercialize new products using both of the firm's technologies and intellectual property resources. Founders of PhysioSonics include Robert Frederickson Ph.D., Michel Kliot M.D., Pierre Mourad, Ph.D., and Jeffrey Jarvik, M.D., MPH. More information »