PARK CITY, Utah–(BUSINESS WIRE)–Control Medical Technology, LLC announced the closing of a Series A financing with a team of medical device manufacturers, global distributors, and investors. Spring Bay Ventures, a medical-technology focused investor based in Jacksonville, Florida, led the funding.
“We are excited about the opportunity to invest in Control Medical Technology, led by Shawn Fojtik,” said Daniel Ryan, Vice President of Spring Bay Ventures. “Shawn is a terrific innovator with a proven ability to turn his ideas into businesses that meet clinical needs.” Mr. Ryan will be joining the Board of Directors of Control Medical Technology.
Control Medical’s ASPIRE aspiration platform under development may be used to remove fluids, tissue, thrombus (blood clots), and other pathology for use in cardiovascular, oncology, spine, pain management, wound irrigation/lavage, and general procedures.
According to the company, ASPIRE biopsy systems may be the first cost-effective 100% disposable rotational vacuum-assisted technology for breast biopsy. Rotational vacuum-assisted technologies spin a needle, catheter, or trocar with vacuum aspiration force to ‘cut and core’ tissue for improved biospy quality and diagnostic confidence.
In addition, the ASPIRE platform can be modified to perform prostate and general biopsy; spinal disc decompression; bone marrow extraction (autologous stem cell harvesting); and other procedures.
“Rotational vacuum-assisted biopsy technologies improve breast biopsy diagnostics, but typically require expensive capital equipment and consumables limiting patient access,” said Shawn Fojtik, CEO of Control Medical. “The ASPIRE system does not require new capital equipment and gives the clinician control/tactile feel for the procedure.”