Flowonix snags $25M to market implantable drug pump

Flowonix Medical, the former Medasys, raised $25 million in investments to market its recently approved implantable drug delivery pump, Prometra. The company got its FDA nod in February and is now set to challenge device industry titans, like Medtronic ($MDT) and its SynchroMed II Drug Pump, for a share of the market. According to Flowonix, Prometra stands out because of its use of pressure differentials to increase accuracy of delivery and allow for dosing variations, all without too many moving parts. The company said it would use the $25 million to launch the platform in the U.S. and to fund pipeline delivery techs. Prometra got its CE mark in Europe in 2010. Report | Background