M2D2 Funds Wayland Medical Device Co.
MedicaMetrix Inc. of Wayland has received funding from the Massachusetts Medical Device Development Center, although the amount was not disclosed, according to company officials.
The center, also known as M2D2, reported that it provided "fast-lane" funding to the medical startup, which makes the "ProstaGlove," a disposable glove that helps measure prostate volume. The center aims to bring Massachusetts-developed medical devices into production.
M2D2, a cooperative effort between the University of Massachusetts Lowell and UMass Worcester, began the startup funding program in spring 2007 and has since helped 23 companies bring their products through development. M2D2 was originally supported with seed funding from the office of the UMass president, and also receives support from the Massachusetts Technology Collaborative's John Adams Innovation Institute and the state.
The initiative aims to bring Massachusetts-developed medical devices into production.
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