Vancouver-based Health Sciences Accelerator Accel-Rx Invests in New Medical Device Company Flosonics Medical ($5M Round)Wednesday, February 7, 2018
ACCEL-RX ADDS PROMISING NEW MEDICAL DEVICE COMPANY TO PORTFOLIO
Flosonics technology fills unmet needs for critically ill patients
Vancouver, BC, February 7, 2018--(T-Net)--Accel-Rx, Canada's national health sciences accelerator (with offices based in Yaletown, Vancouver), announced today it has invested in medical devices company Flosonics Medical.
The Sudbury-based company's flagship smart-bandage product, FloPatch, addresses unmet clinical needs of critically ill patients and the physicians, nurses, and paramedics who care for them in the ambulance, emergency department, operating room, and intensive care unit.
Natalie Dakers, President and CEO of Accel-Rx
"We are pleased to welcome Flosonics Medical to the Accel-Rx portfolio of companies," said Natalie Dakers, President and CEO of Accel-Rx. "The company and its technology embody the profile of companies we actively seek to invest in and support through the Accel-Rx Growth Platform: a solid team, promising technology and the very real potential to address unmet critical needs in patient treatment and care. We look forward to providing the resources and expertise that will help them achieve their next level of development."
"We're excited to have Accel-Rx join our notable investment partners," said Joe Eibl, CEO and Co-Founder of FloSonics Medical. "As Canada's national health sciences accelerator, we welcome their support and mentorship as we advance the commercial development of our proprietary FloPatch technology."
Accel-Rx joins the $5 million financing round led by iGan Partners along with other investors including Genesys Capital, MaRS Investment Accelerator Fund, MaRS Catalyst, Angel One, and Northern Angels.
The second investment in medical devices for Accel-Rx, Flosonics' technology is a non-invasive means of monitoring critically ill patients during the early stages of shock inside and outside the hospital. FloPatch is an easy-to use wearable sensor that adheres to the patient's neck and detects blood flow following clinical interventions.
"Until now, there have been no tools that give clinicians physiological feedback on the effectiveness of their resuscitation, especially in the early stages of care," said Dr. Jon-Emile Kenny, Chief Medical Officer of Flosonics Medical. We believe FloPatch has the potential to provide a fast and effective way of monitoring critically ill patients in the ambulance, emergency room, and intensive care unit.
About Flosonics Medical
Flosonics is a medical device company focused on developing non-invasive sensors to improve the management of critically ill patients.
Canada's national health sciences accelerator, identifies and supports promising early-stage companies developing pharmaceuticals, medical devices and diagnostics. Accel-Rx provides seed capital and expertise to help fuel growth, creating a critical mass of investment-ready ventures equipped to become the next generation of anchor companies to drive a globally competitive health sciences sector. Accel-Rx is a not-for-profit Centre of Excellence for Commercialization and Research (CECR).
Joe Eibl, CEO and Co-Founder
Director, Partnerships & Programs
Accel-Rx Health Sciences
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