CleveX Inc., a Cleveland Clinic medical device spin-out, has raised $1.4 million in VC funding. The round was led by Plymouth Venture Partners, which was joined by WPWIII Cap LP and the Esposito Group. The company is commercializing devices to assist in the excision of cancerous and non-cancerous skin lesions, and the financing will help it fully commercialize its lead technology, ExiClip. The surgical tool excises skin lesions and closes the resulting wound more efficiently than typical scalpel and suture procedures, the firm says, and provides patients with an excellent cosmetic result. The ExiClip received FDA 510(k) approval last year, and a pilot launch is planned for next month. The Columbus, OH-based company is seeking an additional $400K to close the financing round. Go to: Private Equity HUB

Write a comment