Ivenix pulls down $10m tranche in $50m round

Ivenix raised $10 million in equity from 18 unnamed investors in the 1st tranche of its $50 million round, according to regulatory filings.

The company indicated that it does not expect the offering to exceed 1 year. It has not made a formal statement about how it plans to spend the newly-acquired funds.

The Massachusetts-based start-up hopes to reinvent the infusion pump. In November, CEO Stuart Randle told Drug Delivery Business News that when he was approached with the corner office offer in January, he revisited the infusion pump industry and saw that the technology had not kept up with the changing hospital environment.

Get the full story at our sister site, Drug Delivery Business News.

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