RF Surgical Systems, Inc. Completes $12 Million in Funding Led by Menlo Ventures (Business Wire)

BELLEVUE, Wash.--(BUSINESS WIRE)--RF Surgical Systems, Inc. announced that it has recently raised $8.2 million in a Series A round of venture capital financing from Menlo Ventures and Stanford University. Together with previous private placement investments, the company has raised over $12 million during 2008 and over $20 million since its inception. The Company intends to use the new capital to support the expansion of its RF Surgical Detection System™ into acute care hospitals throughout the country. The Company has developed and is marketing the patented FDA and CE approved RF Surgical Detection System™, the first and only surgical sponge detection system in commercial use. The system scans for and signals an alert if any RF Detect™ tagged surgical sponges, gauze or towels remain in a patient prior to surgical closing... [read full story]