Medical device firms invest in MicroCHIPS

Oct. 19, 2005 — MicroCHIPS, a Bedford, Mass.-based developer of drug delivery and biosensing technologies, announced that two medical device companies, Boston Scientific Corp. and Medtronic Inc., joined the company as strategic investors. Both companies made equity investments in MicroCHIPS. In addition, the companies announced that Medtronic is working with MicroCHIPS on a joint product development program.

Boston Scientific and Medtronic join a group of existing investors that includes Polaris Venture Partners, IDG Ventures, Care Capital, Intersouth Partners, and Boston University.

Alongside the investment, MicroCHIPS named James Barry and Stephen Oesterle to its board of directors. Barry is vice president of corporate research and development at Boston Scientific. Oesterle is senior vice president of medicine and technology at Medtronic.


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