Trice Medical, a diagnostics company focused on micro invasive technologies, has closed the first tranche of an $11.6 million Series B financing, which was led by Safeguard Scientifics, with participation from BioStar Ventures and other existing investors. Proceeds from the funding will support the company's efforts to commercialize and market its initial diagnostic arthroscopy product, mi-eye, into the physician’s office. As part of this tranche of financing, Safeguard deployed $1.25 million in Trice and has a 9.6% primary ownership position. The second tranche will close pending 510(k) clearance from the FDA for mi-eye. With this regulatory milestone, Safeguard expects to deploy an additional $3.75 million in Trice, which will increase Safeguard’s primary ownership to approximately 26%.