Blaze Medical Device accomplished a big milestone many other bio-tech startups never even get close to.
"For the first time we are generating revenues," says David Weaver, CEO of Blaze Medical Devices.
The Ann Arbor-based startup made its first sale of its blood transfusion technology earlier this month. Blaze Medical Devices' platform enables medical professionals to better control and optimize blood banking and transfusions. Its clinical tests assess the quality of stored blood and its laboratory instruments help facilitate blood research. The first customer of this technology came unsolicited.
"They didn't want to wait," Weaver says. "It has a huge upside for us. It shows that the market is real."
Blaze Medical Devices is now working on adding more clients by the end of the year. The 9-year-old firm is also in the midst of raising a $2 million angel found. Late last year it landed a $200,000 SBIR grant and has since landed more angel investor capital. So far the company has raised $1.3 million toward its $2 million goal, which it expects to close on by the end of the year.
Blaze Medical Devices employs a staff of six employees and is looking to add some summer interns. It has hired one lab technician earlier this year. Weaver expects his staff to continue to grow as it generates more revenues and closes out on its angel round.
Source: David Weaver, CEO of Blaze Medical Devices
Writer: Jon Zemke
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