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Patton Medical Devices Secures $15 Million Financing

Monday, October 22, 2007 5:00:00 AM PDT | VentureDeal Staff

AUSTIN, TX -- Medical device developer Patton Medical Devices, LP said that it has raised a $15 million round of financing from an undisclosed investor.

Patton makes a device that enables patients with diabetes to inject insulin for up to a three day period using the same injection point, which is kept clean and sterile by the company's device attached to the skin.

In addition to reducing pain, the other main benefit of the device is to increase compliance, since many diabetics complain of daily pain associated with injections after each meal.  Increased compliance has been associated with lower health-care costs, better quality of life and ultimately longer life for diabetic patients.

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