Competition could be rising for Medtronic’s ($MDT) Pillcam, an endoscopic imaging capsule as Californiabased Rock West Medical Devices raised $1.25 million in equity to advance its MoPill, an ingestible device that measures the motilityspontaneous and active movementof the gastrointestinal tract.
The funding came from a single undisclosed investor. Rock West Medical Devices, a member of Advamed’s Medtech Innovator, hopes to raise another $1.75 million from the equity round, according to an SEC filing. It will use the funds to support the development of a MoPill prototype and to see it through preclinical and clinical trials and a 510(k) bid, according to Medtech Innovator.
Read more: FierceBiotech