Connect with us

Biotech

ICU Medical Opens Half Million Euro Round with an Eye on the United States

ICU Medical Technologies was created in February 2020 within the Miguel Hernández University of Elche. The first device created by the startup is a pacemaker that facilitates temporary cardiac stimulation. Called KronoSafe, the device has been designed to reduce complications related to cardiac problems and aims to shorten the stay of patients in Intensive Care Units (ICU).

Published

on

ICU Medical Technologies is seeking capital. The Valencian company has opened a financing round of half a million euros with the aim of commercializing its patented cardiac stimulation system, according to Ray Vicente, CEO, and founder of the company.

The pacemaker designed by ICU Medical has obtained a national patent, so the startup is first considering expansion in Spain. Even so, the company has received favorable reports for its stimulation system to obtain the patent abroad.

In the medium term, ICU Medical is considering launching a process of international expansion and landing in the United States. However, the company also plans to explore the markets of Canada, Brazil, Chile, Germany, Italy, France, the Netherlands, India, and Australia.

Read more about ICU Medical and its latest pacemaker with our companion app. The Born2Invest mobile app brings you the most important business headlines so you can stay on top of the market.

ICU Medical Technologies was created in February 2020 within the Miguel Hernández University of Elche

The first device created by the startup is a pacemaker that facilitates temporary cardiac stimulation. Called KronoSafe, the device has been designed to reduce complications related to cardiac problems and aims to shorten the stay of patients in Intensive Care Units (ICU).

This technology acts as an external pacemaker and allows the patient’s heart to raise the heart rate when bradycardia is detected. Until now, the external pacemaker application procedure has not had health certification.

With its first device, ICU Medical Technologies intends to take advantage of this market opportunity to market KronoSafe in a legal and regulated manner. Precisely along these lines, the company’s first round of financing was carried out to test the legal viability of the product in the most attractive markets for the startup. The amount of the round was 50,000 euros.

SEE ALSO  How to make the most out of your trips

The product has already been classified by the Spanish Agency of Medicines and Health Products (Aemps)

So far, the first clinical study has been conducted with twenty patients. The pacemaker functioned optimally in all patients, no complications were recorded and ICU stay was reduced by 85%, according to the company’s data.

ICU Medical Technologies was founded in February 2020 within the Miguel Hernández University of Elche (Alicante). Ray Vicente, an intensivist physician, is the founder of the company, which currently has two employees. After the round, the company plans to hire three more employees.

__

(Featured image by geralt via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.