Vittamed Obtains $10 Million in Financing to Support Launch of ICP System

Neurodiagnostics devicemaker Vittamed has secured $10 million in financing from Xeraya Capital Labuan to support product launch in Europe, Australia and other countries; a 510k submission to the FDA; and commercialization in the U.S.

The Boston, Mass.-based company’s first commercial product is a system for non-invasive measurement of intracranial pressure that has received the CE Mark.

The device aims to reduce the risks and costs of the neurodiagnostic procedure.

Prolonged elevations in intracranial pressure are associated with neurological damage and cognitive impairment, and can result in irreversible damage and death if it reaches a certain level. — Michael Cipriano