Minimally Invasive Devices (MID) develops FloShield, a tool that prevents laparoscope fogging and contamination by actively protecting and flushing the lens during surgery. The technology eliminates the need to remove the laparoscope for cleaning or defogging, maintaining surgical flow. FloShield protects against condensation, smoke and debris and can flush the lens if it becomes dirty. The product is sold in the US and in 10 countries overseas. MID was founded by laparoscopic surgeon Dr. Wayne Poll and is based in Columbus, Ohio. The company has taken on outside financing to support working capital and continued growth. Minimally Invasive Devices, Inc. develops and manufactures the FloShield™ laparoscopic vision system, a device that attaches to modern HD vision systems to prevent obscuration of the optics and avoid interruption during surgery. The company is led by founder and CEO Wayne Poll and is based in Columbus, Ohio. It raised an additional $2.5M in Series B financing to support its commercial and clinical efforts. The funds are intended for sales and marketing, clinical studies, generation of outcomes data and additional product development. Prior investors Canaan Partners and Charter Life Sciences had previously invested $9M. The company’s product enables laparoscopic procedures to continue without removing the scope for cleaning. Minimally Invasive Devices produces the FDA‑approved FloShield™ laparoscopic vision system, which attaches to HD camera systems and uses an air curtain to form an invisible protective barrier over the lens. The system is augmented by Flo‑X, a biocompatible surfactant designed to flush the lens inside the body if needed. The company says its products allow surgeons to operate without loss of vision and without lens removal. Minimally Invasive Devices intends to use new capital to establish a direct sales unit, expand manufacturing operations, develop complementary products and generate additional data to support system efficacy. The company is led by founder and CEO Wayne Poll, M.D., and is based in Columbus, Ohio. Minimally Invasive Devices develops surgical products to improve laparoscopic visibility, led by its FloShield device that prevents liquid from obstructing a laparoscope tip. The company is preparing a next-generation FloShield, an access system for the product, and a compatible liquid cleaning solution. MID has a distribution deal with CareFusion and is seeking a European distributor, and hopes to receive regulatory approval to sell FloShield in the EU around mid-2011. The latest funding will support these product launches and hiring (the company currently has 10 employees and plans to add another sales support worker). MID has refocused away from a previously planned kidney stone removal tool to concentrate on laparoscopic surgery products to increase acquisition appeal. Financially, the company raised $1.35 million last year for earlier development, has raised more than $1.5 million in the current equity round, and has raised about $7 million since its 2007 founding.

Total raised

$18M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Jul 2015