PhysioSonics raises cash

PhysioSonics, a University of Washington spin out that's developing an ultrasound device to monitor blood flow in the brain, has raised $2 million in funding to move toward commercialization of its first product. Chief Executive Brad Harlow declined to say when the Seattle company might roll out the system, but he added that it is "moving along faster than any of us expected."

The technology traces its roots to research at the UW developed nearly a decade ago, but was only licensed out a couple years ago.

Typically, hospital staff press an ultrasound machine against a patient's head in order to get the blood flow information. But Harlow said his company's technology automates that process with a small device that a patient wears during the procedure that provides read outs to doctors and nurses.

Investors in the company include Johnson & Johnson Development Corp. and an undisclosed "strategic" partner. The company raised $4 million for the neuromonitor last year, with Harlow saying that investors have committed another $1.5 million to close later this year.

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John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.

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