dBMEDx™ , Inc. Closes Round of Funding, Selected for Venture Showcase

dBMEDx™ , Inc., a privately-held, wireless medical device company, announces the closing of a capital raise of $1.3 million through the sale of common stock, the company’s third successful capital raise. In addition, the company announces that it has been selected to present at the Colorado BioScience Association’s 2014 BioWest Venture Showcase on September 10.

The proceeds from the round will be used to commercialize the BBS RevolutionTM device, an automated bladder volume measurement device which will be the company’s first released product. The device is typically used for the management of in-hospital urinary catheters to avoid catheter-associated urinary tract infections (CAUTI). CAUTI is the most common type of healthcare-associated infection with an estimated 500,000 cases per year, each of which can increase the hospital stay by 2-4 days. The associated hospital costs, estimated at $350 million per year in the US, are typically not reimbursed and, as a result, the market for bladder volume measurement devices continues to show strong growth.

“The BBS RevolutionTM device will bring unparalleled ease of use and accuracy to a market that is ready for innovative solutions and primed for continued growth.” said David Shine, CEO of dBMEDx™ .

dBMEDx™ was also selected as one of three companies to present at the Venture Showcase competition at the 2014 BioWest meeting in Denver, Colorado sponsored by the Colorado BioScience Association. BioWest is the Rocky Mountain region’s premier medical device and biotechnology conference and the company will be competing for a cash prize.