PHOENIX and BOSTON --
3i has announced the Series A funding of medical device maker Xthetix, Inc. in a round totaling $2 million.
Xthetix, which is in development of an ultrasound-based handheld device designed to prevent the occurrence of acne, says it expects to have 510(k) clearance in 2007.
The company's founders, Chairman Michael Slayton and CEO Brian O'Connor, previously founded Ulthera, a Phoenix-based company addressing non-invasive facelifts for the professional skin-care market.
Allan Ferguson of 3i will join the founders on the Board. Paul Badawi, Director of 3i, was also involved in the transaction.