Spirus Medical Raises $8.5 Million

Spirus Medical, a diagnostics company based in Stoughton, MA, has raised $8.5 million in Series B convertible preferred stock financing. BioVentures Investors, Point Judith Capital and Village Ventures, along with a group of individual investors, participated in the financing, which the firm will put toward commercialization of products developed with its Endoluminal Advancement System. The technology uses a soft spiral component, fixed on an active, flexible overtube, to facilitate a more efficient approach to endoscopy. Spirus launched its first two products using the technology in November 2006 — Endo-Ease Advantage and the longer Endo-Ease Vista, for colonoscopy; CE Mark approval for those products came through last December. And the firm has received 510(k) clearance for its EndoEase Discovery SB product, for enteroscopy, to be launched later this year.

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