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Calming chronic pain

While many of last year's business plan competitors have found the venture capital market tough to crack, fourth-place winner MicroTransponder has triumphed. Late last month the medical-device startup closed a $2.2 million funding round.

Why are investors lining up? The founders developed a device that allows doctors to treat chronic pain and other neurological maladies through wireless signals. In the past year the company has grown from four to 10 full-time employees and plans to finalize its prototype this spring. The startup will complete pilot trials by the end of the year and then hopes to sell its technology to a huge medical device company such as Boston Scientific or Medtronic.

NEXT: Aiming for investors' hearts - and patients'

LAST UPDATE: Apr 15 2009 | 9:06 AM ET
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