Baltimore Checkbook: UMB-born medical device startup raises $2.35 million, moves toward FDA clearance

Tuesday, July 24, 2018

UMB-born medical device startup raises $2.35 million, moves toward FDA clearance

Baltimore startup CoapTech has raised $2.35 million in seed funding, as the company works to get its new medical device cleared by the U.S. Food and Drug Administration. Major funders involved in the round included the National Institutes of Health, UM Ventures, Maryland Technology Development Corp. and the Maryland Industrial Partnerships program, as well as local angel investors. CoapTech co-founder Howard Carolan said the round will be used to support clinical testing and help push the company's…