Serra Ventures Invests in Medical Engineering Innovations

Champaign, IL – WEBWIRE – Monday, May 7, 2018

Champaign, IL – (May 3^rd, 2018) – Madison-based Medical Engineering Innovations, Inc. (MEI), a company that is in the process of developing and commercializing electro-mechanical medical devices initially focused on liver surgery and localized cancers, has received Series A funding from Champaign, Illinois-based venture firm Serra Ventures. Serra is leading the company’s funding round that is expected to close $1.2M in total funds.

Richard Schmidt, CEO of MEI, says, “We are excited to be partnering with Serra Ventures as we complete development of the SwiftBlade-R, our first product in the SwiftBlade line, which is targeted at improving survival rates for liver cancer patients by minimizing blood loss during liver resection. Funding from Serra Ventures and other investors will allow us to complete our regulatory submission, leading to the release of this and other life-saving products.”

Dennis Beard, Managing Partner at Serra Ventures, commented, “We were introduced to Rich and the MEI team through long time colleagues. From the initial meetings with MEI through the completion of our funding commitment, the team, technology and market potential have made a strong impression on us. We are excited about the potential of MEI’s planned products not only from an investment perspective but also for the life-saving impact. As a firm supporting the strong tech ecosystems throughout the Midwest, Serra is proud to partner with Madison-based MEI.”

About Serra Ventures, LLC

Serra Ventures is an early stage venture capital firm investing in technology companies in emerging Midwest technology centers and selected other geographies. Sectors of focus include information technology, devices/instrumentation and agricultural technologies. The profile of an ideal startup for consideration by Serra is one that has just finished an accelerator program, an Innovation-Corps program or has been through a round of seed funding to establish and prove a strong product-market fit.

Serra Ventures is headquartered in the University of Illinois Research Park in Champaign, Illinois, with additional offices in Chicago and San Diego. Our central Midwest location enables Serra to act local in several Midwest markets. Entrepreneurs know that critical business issues requiring advice are rarely scheduled. Serra’s central location means hands-on work with entrepreneurs at a moment’s notice when they need it the most. For more information, visit www.serraventures.com.

About Medical Engineering Innovations, Inc.

MEI is focused on bringing new technologies to market that combat liver and other cancers with more effective tools for surgical resection and tumor ablation. The company’s technologies combine a unique algorithm and multiple RF amplifiers to control the application of radiofrequency energy to the tissue, with enhanced blade electrode geometries to optimize tissue heating.

MEI’s patented technology was developed at the University of Wisconsin-Madison (UW) and has been benchmark tested in large animal studies against current technology. Based upon the results of testing, this platform is intended to offer significant improvements for reliable coagulation of tissues and blood vessels, and associated improvements for ease of use. These tools are designed to require only a single application of about 6 minutes, which may reduce surgical time and blood transfusions, resulting in a more cost-effective procedures and better patient outcomes. For more information, visit www.mei-america.com.

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