February 23, 2011
Franklin Firm Secures $4 Million In Financing
By Christina Davis
Franklin-based medical device maker PLC Systems has landed $4 million in secured convertible debt financing from an unnamed institutional investor.
PLC said that an additional $2 million in financing may be available if the company meets certain sales and clinical trial objectives.
The money will help PLC resume U.S. clinical trials of its RenalGuard program, which is aimed at treating a certain form of kidney failure. RenalGuard is being marketed in the European Union and additional countries around the world.
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