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Augmenix raises $4.7 Million funding
By siliconindia
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Bangalore: Augmenix, a Waltham-based company which develops medical devices, has raised $4.7 million funding of an equity round worth $7.5 million, according to a regulatory filing.
According to the company's website, Augmenix is attempting to develop the first synthetic product to put space between tissues, which will block normal tissue from receiving the radiation delivered to tumors in treating prostate cancer. Augmenix develops hydrogels in medical devices that will be used specifically for radiation oncology and cancer surgery. The document filed with the U.S. Securities and Exchange Commission has listed 10 backers in Augmenix, but did not disclose any names.
Privately held company, Augmenix was founded by Amar Sawhney and currently there are about six employees in the company. Sawhney has also founded a series of companies that are into development of hydrogels.