Abram Scientific, a medical device company focused on advancing next-generation coagulation diagnostics, today announced the closing of a $11.75 million Series A financing round. The round was led by global pharmaceutical leader Octapharma AG, with additional participation from existing and new investors affiliated with University of Colorado Anschutz.
This funding will accelerate the development of Abram Scientific’s proprietary portable platform, CoagCareTM, for aiding the evaluation of blood clotting disorders and to assist in determining appropriate transfusions and therapy for patients undergoing trauma and surgical procedures. The capital will also support advancement of the CoagCare system towards achieving clinical milestones and securing U.S. Food & Drug Administration (FDA) 510(k) clearance.
Abram’s CoagCare System is a novel diagnostic platform for diagnosis and characterization of coagulation-related disorders, delivering rapid hemostasis information to improve clinical outcomes. The CoagCare system is designed as a point-of-care (POC) meter employing a single-use diagnostic test card. The platform utilizes proprietary technology for fast and highly accurate measurement of blood viscoelasticity and density, characterizing the entire blood coagulation cascade from blood clot formation to fibrinolysis in under 10 minutes, enabling the detection of blood clotting or bleeding disorders and guiding the use of therapy for optimal coagulation management.1
The CoagCare System offers significant advancement over current global coagulation diagnostic platforms, such as thromboelastography (TEG®) and thromboelastometry (ROTEM®), that typically require 30 to 60 minutes for a complete measurement including fibrinolysis.2, 3, 4, 5 In sharp contrast, the CoagCare system provides a complete and rapid assessment of the blood coagulation process, delivering results in under 10 minutes from a single drop of blood. Designed as a portable, vibration-insensitive solution, CoagCare holds promise for applications in remote or pre-hospital settings such as MEDEVAC helicopters and ambulances where stable, laboratory-grade conditions aren’t always available and the speed of adjudicating and delivering the right transfusion becomes a matter of life or death.
“Our mission is to enable CoagCare to help adjudicate life-saving therapies and transfusions, so that the right therapy is provided to the patient at the right time and at the right dosage,” said Abhishek Ramkumar, CEO, Founder, Abram Scientific. “Our collaboration with Octapharma and the University of Colorado provides both funding and strategic expertise, enabling us to move faster and smarter, and positioning CoagCare to revolutionize the current clinical paradigm.”
Octapharma ensures timely access to the leading critical care therapies with a product portfolio focused on improving patient outcomes. Octapharma has made significant contributions to improving standards of critical care and developing new treatments for coagulation management. The Octapharma investment signifies its interest in emerging platforms that address unmet clinical needs in the hematology and critical care space, and represents its first major investment in the diagnostics sector. This new direction is poised to broaden the Octapharma products’ applications across the entire continuum of care for the patients it serves.
“We are excited to partner with Abram Scientific in this phase of next-generation technology development,” said Flemming Nielsen, President, Octapharma USA, Inc. “Abram has a unique approach with real potential to reshape patient outcomes, and we are proud to accelerate their next stage of development. Abram’s CoagCare can empower clinicians to deliver goal-oriented therapy with greater accuracy, ensuring the right intervention, at the right time, in the right amount. This represents an important step forward in patient care and can help shape clinical guidelines nationally and globally.”
“Uncontrolled hemorrhage remains one of the leading—and most preventable—causes of early trauma death.” said Dr. Vik Bebarta, Endowed Chair in Emergency Medicine, University of Colorado Anschutz and Founding Director of The Center for COMBAT Research. “We are excited to partner with Abram Scientific to develop CoagCare to give surgeons and emergency physicians the critical information they need sooner to guide life-saving therapy decisions.”