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 closed its most recent financing of $1.5 million from new and existing investors. Proceeds will be used to complete an ongoing clinical trial and to prepare regulatory submissions.
“We are pleased to welcome new investors to this round and with the continuing commitment from existing investors,” said Vixiar CEO, Kevin Thibodeau. “Heart failure is a large and growing global concern and there is currently a lack of non-invasive, point-of-care technologies for addressing the major problem of costly hospitalizations and readmissions. Our technology offers a rapid, non-invasive, cost-effective device designed to be used across the continuum of care including hospitals, physician offices, skilled nursing facilities and patient homes.”
New investors joining in this round included Emerald Development Managers, MMG Opportunities and several individual investors. Existing investors included The Maryland Technology Development Corporation (TEDCO) through its seed fund, the Abell Foundation, individual investors and management.
“We believe Vixiar’s platform offers compelling advantages over the competition and addresses a huge unmet need in heart failure monitoring,” stated Neil Cohen, Chairman of Emerald Development Managers. “We are also pleased that the technology was invented and extensively researched by faculty at Johns Hopkins.”
“We have been pleased with the Vixiar team’s progress and look forward to seeing them meet additional milestones as a Baltimore City-headquartered medical device company,” added Eileen O’Rourke, CFO at the Abell Foundation.