MedTech Start-Up Closes $1.5 Million Investment Round and Targets Launch of its Patented Suspension Biomechanics Technology
MINNEAPOLIS, June 24, 2020 (GLOBE NEWSWIRE) -- SubioMed, Inc. (“SubioMed™” or the “Company”), a pioneer in the invention and development of disruptive Suspension Biomechanics™ technology addressing critical elements of gait and balance, today announced that it has successfully completed its initial equity financing round of $1.5M.
The common stock offering saw insider participation, in addition to investments from individual angel investors. Patrick Kullmann, Chairman and Chief Executive Officer of SubioMed stated, “We are very pleased to have successfully completed this early round of financing which paves the way for future growth. We are grateful to our investors who share our vision and passion for providing solutions capable of addressing physical issues surrounding biomechanics of the lower extremities, which are a leading cause of morbidity and mortality affecting millions of patients worldwide.”
Proceeds from the financing will be used to further the development of its first products which SubioMed anticipates launching in early 2021.
SubioMed intends to commercialize technology invented by Barry Butler DPM. Dr. Butler has been in practice 28 years and is board-certified by the American Board of Podiatric Surgery (ABPS) and a Fellow of the American College of Foot and Ankle Surgeons (FACFAS).
SubioMed™ is pioneering the invention and development of Suspension Biomechanics technology aimed at improving lower extremity biomechanics and its effect on the skeletal structure during human locomotion. For more information, please visit our website at www.subiomed.com.
CEO & Chairman