Medical device co SteadyMed raises $2m

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Samson Venture Partners made the investment.

Medical device start-up SteadyMed Ltd. has raised $2 million in its first financing round from Samson Venture Partners LLC, the investment arm of Becker & Associates Consulting. Becker advises companies on work with the US Food and Drug Administration (FDA).

SteadyMed is developing the PatchPump, an inexpensive miniaturized infusion pump for the smart delivery of therapeutic drugs.

SteadyMed has raised $3 million to date, including the present round. The company was founded in 2005 at Rad BioMed Incubator, a unit of the Zisapel brothers RAD Group.

Published by Globes [online], Israel business news - www.globes-online.com - on January 28, 2009