Encision expects FDA OK for surgical device
Last Updated: 16:11 January 8, 2014
Boulder-based Encision (ECIA: PK) expects to receive FDA approval and start selling the device this spring, Greg Trudel, the company's president and chief executive, said in a press statement. The Food and Drug Administration must approve all medical devices that are sold in the United States, a process that can often take about a year, according to industry experts.
The EndoShield prevents stray electrosurgical burns when it's used in minimally invasive surgery, according to company. The EndoShield recently received approval from an independent testing agency for its electrical safety, according to the company.
The FDA filing comes just a couple of weeks after Encision raised $2 million through a private placement of 2.5 million shares of the company's common stock in mid-December. At the time, the company said the money would be used for general corporate purposes.
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