US and global investors join company to help launch first product Indicor™, a non-invasive device for monitoring worsening heart failure.
Annapolis, MD – July 18, 2017 – Vixiar Medical, Inc., a privately held Maryland company dedicated to the development of non-invasive devices and systems for monitoring cardiopulmonary diseases, announced today that it has raised seed round financing of over $1.5 million.
Proceeds will be used to complete regulatory submissions and fund final engineering and initial production of the Company’s first product, Indicor™, a non-invasive point of care monitoring technology for estimating cardiac filling pressure. The investment group includes representation from Asia, Europe and the US including the Abell Foundation, Kacero Holdings, BV TEDCO and a Chinese medical device and services investment firm.
“We are excited to receive the support of this group of local and global investors and move forward to achieve our critical milestones including commercialization of our first technology,” said Kevin Thibodeau, Vixiar CEO. “Heart failure is a growing global healthcare challenge and we are eager to offer clinicians a non-invasive, cost-effective solution for identifying early signs so they can intervene earlier and avoid costly hospitalizations.”
About Vixiar Medical™
Vixiar Medical, Inc., develops non-invasive, cost-effective devices and systems for monitoring cardiopulmonary diseases, particularly those with significant clinical and economic burden. The Company’s first product, Indicor™, is a handheld point of care device and digital platform for monitoring worsening heart failure. Headquartered in Annapolis, Maryland, the Company is a spinout of Johns Hopkins. For more information, go to www.vixiar.com.
About Abell Foundation
The Abell Foundation is a private foundation dedicated to the enhancement of the quality of life in Maryland, with a particular focus on Baltimore City. The Foundation places a strong emphasis on opening the doors of opportunity to the disenfranchised, believing that no community can thrive if those who live on the margins of it are not included. Consistent with its mission, the Foundation has allocated a portion of its investment portfolio to early-stage companies that offer significant social and economic benefits to the people of Baltimore City, including several investments in innovative medical devices. For more information, go to http://www.abell.org/
About Kacero Holdings, BV
Kacero Holdings, BV is the investment arm of pharmaceutical and device entrepreneur, Paul Robberts of Maastricht, Netherlands. Paul founded Romedic BV, a market share leading respiratory equipment and services business which he sold to Mediq NV in 2011 after 21 years of rapid revenue and profit growth. Paul currently owns and operates several other ventures, including Cresco Pharma, BV, a pharmaceutical distribution business specialized in antibiotics, IV and inhalation and asthma therapeutics, and Syrolab, BV, an innovative laboratory diagnostics business. For more information, go to http://www.crescopharma.nl/ http://www.syrolab.nl/
TEDCO’s mission is to facilitate the creation of tech businesses and foster their growth throughout the state, through the commercialization of technology. Nationally known as more than a seed/early-stage funding and support resource, TEDCO has invested in more than 400 seed investments for nearly 20 years through 8 funding and 6 mentoring and education programs. TEDCO’s $22 million awarded to start-ups resulted in $1 billion follow-on funding. This investment is through TEDCO’s Life Science Investment Fund (LSIF) and follows their 2015 investment in Vixiar. For more information, go to http://tedco.md/
The VIC Investor Network
The VIC Investor Network (VIN) was formed in 2013 to place seed capital investments of $250,000 into every new company founded or co-founded by VIC Technology Venture Development. These companies are based on the most commercially promising technologies exclusively licensed from top research institutions across the country. From breakthrough medical products to innovative water treatment technologies, the portfolio companies have both great commercial opportunity and the potential to impact important problems facing society and the world. In addition to being based on the best of the best new technologies sourced from a pool of over $150 billion of federally sponsored research, the companies each feature outstanding executive management and product development teams.