who does consulting work related to regulatory approvals, traveled to Washington, DC, to meet with officials at the FDA. Medow says the trip went well.
“We are hopeful that we will have a clear direction from the FDA within the next couple of weeks about the regulatory pathway to commercialization,” he says.
Integrated Vital Medical Dynamics raised $342,000 in equity financing last August, according to a regulatory filing. Medow says Wisconsin Investment Partners provided the capital in exchange for a 12.7 percent stake in the startup, which valued the pre-revenue company at $2.7 million.
Asked whether he and others at the startup expect to bring in additional outside funding, Medow says there are currently no firm plans to raise another round, but, “You never want to close doors.”
“I think so far we’ve done reasonably well with a relatively small burn rate,” he says. “But if a time comes and we need to raise money, or [Digital Intern] explodes and we need capital to be able to deal with everyone coming in, then we may have to.”
