Littleton medical device company closes second round of funding

Littleton-based dbMEDx, Inc., a medical device company that is developing automated scanning devices for a range of medical applications, has announced that it has completed a second round of funding.

The company announced the closing of a fully subscribed capital raise of $1.1 million through a sale of common stock.

The proceeds will be used to complete development of the company’s first product, the Benchmark Bladder System. The system is described as a fully automated and non-invasive bladder volume measurement device utilizing the company’s hand-held scanning technology.

Bladder volume measurement is used in the diagnosis and treatment of medical conditions, including urinary tract infections.

The company said the product, when fully developed, will offer a number of advantages over competing devices, including a lower cost of ownership and improved ease of use.

“We are very pleased with the level of interest in dbMEDx as evidenced by the rapid closure of our second round of funding,” said David Shine, CEO of dbMEDx.

“The company is now well-positioned to bring the first first device in our pipeline through FDA clearance and move toward initial revenue,” he added.

Shine said the annual market for automated bladder measurement devices is currently estimated at $150 million.

Howard Pankratz: 303-954-1939, hpankratz@denverpost.com or twitter.com/howardpankratz