Biotech

Magnolia Medical Captures $20M to Reduce Blood Culture Contamination

Magnolia Medical Technologies, a Seattle-based manufacturer of devices for collecting blood and bodily fluids, announced this week it has raised $20 million in equity funding to ramp up sales of its flagship product. The funding comes as Magnolia and San Diego-based competitor Kurin battle each other in court.

RTW Investments, a New York-based firm that backs healthcare ventures, led the Series C funding round, Magnolia says. Other participants included SightLine Partners, Canepa Healthcare, and HealthQuest Capital, according to a news release; the latter two firms had invested in Magnolia previously.

Magnolia has raised nearly $51 million in combined debt… Read more »

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https://xconomy.com/seattle/2019/02/01/magnolia-medical-captures-20m-to-reduce-blood-culture-contamination/

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