22 September 2022 - - US-based US Patent Innovations, LLC's US Medical Innovations, LLC biomedical device subsidiary has secured a USD 10.2m private placement deal from multiple sources including existing partners and new investors, the company said.

USMI will be using these funds to ramp-up manufacturing of its newly-released Canady Plasma XL-1000 SMART Electrosurgical Generator (XL-1000) and support the development and release of its Canady Helios Cold Plasma Generator and robotic delivery system for the selective treatment of cancer.

In April 2021, USMI completed the first FDA-IDE-approved clinical trial to evaluate cold atmospheric plasma for the treatment of cancer and is preparing for the launch of several Phase II multi-center international trials starting in 1Q23.

The company has recently released its new XL-1000 featuring Canady Hybrid Plasma Technology, a high-definition touchscreen, built-in surgical Apps, and a variety of safety and security features.

Hybrid Plasma electrosurgery technology is used in more traditional surgeries such as hip and knee replacements.

US Medical Innovations, LLC is a private US biomedical device company and wholly-owned subsidiary of US Patent Innovations, LLC.

USMI's focus is developing advanced innovative affordable plasma and robotic electrosurgical devices and striving to develop innovative devices in the field of plasma technology for the eradication of cancer.