US Medical Innovations (USMI) develops plasma and robotic electrosurgical devices, including the recently released Canady Plasma XL-1000 SMART Electrosurgical Generator. The company plans to use funds to ramp up manufacturing of the XL-1000 and to support development and release of the Canady Helios Cold Plasma Generator (CHCP) and a robotic delivery system for selective cancer treatment. USMI completed the first FDA-IDE-approved clinical trial evaluating cold atmospheric plasma (CHCP) for cancer in April 2021 and is preparing multiple Phase II multicenter international trials beginning in Q1 2023. The XL-1000 features Canady Hybrid Plasma Technology, a high-definition touchscreen, built-in surgical apps, and enhanced safety and security features; Hybrid Plasma is used in traditional surgeries such as hip and knee replacements. Management says additional sales revenue and the recent financing will support continued development of cold plasma technology and strategic plans for a 2023 IPO. USMI is a wholly owned subsidiary of US Patent Innovations, LLC and is based in Takoma Park, Maryland.

Total raised

$10M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2022