February 18, 2011
UMass Partnership Funds Get 10-to-1 Return
Companies associated with the Massachusetts Medical Device Development Center, including Wayland-based MedicaMetrix, have raised more than $5 million in private funding so far.
M2D2, a partnership between UMass Lowell and the University of Massachusetts Medical School in Worcester, said the medical device companies received a total of $500,000 in M2D2 FastLane awards and used that startup funding to attract the private capital.
MedicaMetrix is developing the ProstaGlove, a urological medical device for measuring prostate volume.
The other companies receiving the funding were MoMelan of Cambridge, TheraTorr of Beverly and Aura Medsystems of Duxbury.
WBJ Web Partners
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