Indianapolis-based start-up medical device maker NICO Corporation announced yesterday that despite declining economic conditions and a sluggish stock market, the company raised $1.73 million in its Series B round of funding.  NICO is a privately-held medical device company holding exclusive worldwide patent rights to the newest minimally invasive neuro and spinal tumor removal tool, the Myriad.  Click here for full story.

It’s just a press release, but at least it’s some positive news in this rough economy.  It’s also a good reminder of the importance of patent acquisition and management for small businesses.  Investors often perceive patent portfolios as a demonstration of the high level of expertise, specialization and technological capacity within a business.