Tel Aviv-based medtech startup raises €15.1M, unveils enteral feeding tube ‘GPS’ tech

Each year, millions of patients worldwide are placed on a feeding tube for a variety of medical cases, but many of them are not placed with any sort of technical guidance. This blind placement can lead to life-threatening conditions like pneumothorax, pneumonia, or even death. 

€15.1M funding, partnership with private hospital networks

In this case, Tel Aviv-based startup Envizion is working together with various hospitals to minimise error and maximise enteral procedure efficiency. Recently, the company has raised $ 18 million (approx €15.1 million) in investment led by private medtech backers, family offices, and the Technion Venture Capital fund.

Furthermore, the Israeli startup is partnering with one of the largest private hospital networks in the U.S., with more than one hundred hospitals, to provide Envizion’s feeding tube placement navigation devices nationwide.

ENVue – Navigation device

With this agreement, the hospital network can now use ENvizion’s navigation device – ENVue. As per the company claims, this device can cut the usual placement procedure time in half, using electromagnetic mapping to guide medical-support staff in placing the tube from the nasal cavity down the esophagus, and all the way through to the small intestine.

To ensure correct placements, the ENVue device provides guidance through a number of technical mechanisms including Patient body mapping, Multi-faceted view of the patient’s body, and directional guidance. Combined, the three different mechanisms provide a significant layer of confidence to medical-support staff in patient care, minimising the potentially fatal results of a blind placement and accelerating the procedure time itself for better staff resource allocation.

“We are very excited about the opportunity our work with these hospitals can bring to the U.S.,” says ENvizion President & CEO Doron Besser, MD. “The potential for our navigation technology to both greatly reduce detrimental placements and cut down the time required to place tubes will help clinicians perform the task much more confidently and efficiently.”

Main image credits: Envizion

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Startups – Silicon Canals

Barcelona-based medtech IOMED raises €2 million to expand across Spain, Germany and the UK

Today IOMED, a company that specializes in transforming Electronic Health Records (EHR) into structured data for clinical research, has closed a round of €2 million, led by the venture capital fund Adara Ventures. Existing investors in the company, such as EASO Ventures (Spain) and Speedinvest (Austria), have also taken part. 

IOMED’s technology, based on artificial intelligence and natural language processing, allows hospitals to transform information from medical records (written in free text format) into coded and structured data. This allows hospitals to significantly accelerate their clinical research and maximize research results.

The company, founded in 2016, works with hospitals throughout the country, running projects in 27 Spanish centres, including hospitals such as the Vall d’Hebron Hospital and the Hospital del Mar, in Barcelona, and the Cruces-Biocruces Bizkaia University Hospital in the Basque Country, among others.

“This round’s goal is to strongly expand our team and our capacities, with the idea also to continue the expansion in Spanish hospitals as well as to undertake more activities abroad with a particular focus on Germany and the United Kingdom”, explains Javier de Oca, co- founder and CEO of IOMED.

Rocío Pillado, partner at Adara Ventures, points out that “with its technology, Iomed is changing the rules of the game in clinical research, contributing an enormous value through the streamlining of long processes of data collection that usually impose barriers on a high percentage of clinical studies”.

Among the most recent projects carried out by IOMED is a study on COVID-19 that is currently being carried out in hospitals within several Autonomous Communities.

The main objective of the study is to shed light on the coronavirus by determining which population groups are most affected; how therapies are managed in the absence of validated treatments; which treatments are most effective; what differences are there regarding these issues in comparison with other types of pneumonia; or what variables help us predict who will be infected, hospitalized and how many deaths there will be.

EU-Startups

MedTech startup uMotif raises £5m from AlbionVC, as COVID-19 accelerates remote clinical studies – TechCrunch

MedTech startup uMotif raises £5m from AlbionVC, as COVID-19 accelerates remote clinical studies  TechCrunch
“startups when:1d” – Google News

Oulu-based medtech Monidor secures €1 million for its safe patient monitoring solutions

Finnish medtech startup Monidor has finished its latest investment round, receiving €1 million from the deep tech fund Voima Ventures and Innovestor. Prior to the current round, Monidor has been backed up by Butterfly Ventures and private investors.

Founded in 2015, Monidor’s mission is to help clinicians in their work and improve patient safety with easy-to-use solutions. The company develops integrated smart solutions for intravenous therapy given in hospitals, bringing efficiency and accuracy into patient care. The company launched its first product ‘Monidrop’ in February 2020, and is now receiving the funding to respond to the urgent need for safe patient monitoring solutions raised by Covid-19. Moreover, the new funds are directed to support the future growth of the company.

The story of Monidor started when one of the co-founders, Antti Puolitaival, kept facing the consequences of inexact infusion in his daily work as a doctor. Currently, infusion therapy is often monitored manually, and thus is both inaccurate and needlessly overburdening the hospital staff. While practically similar devices to measure the infusion treatment have been developed earlier, they are overly expensive, significantly large in size, and traditionally only available for the intensive care patients.

To solve these problems a small, precise, and easy-to-use solution ‘Monidrop’ infusion meter combined with the ‘IV Screen’ remote monitoring feature was introduced. ‘Monidrop’ assures that the patients get the exact treatment they need while also saving nurses’ valuable time.

The Covid-19 pandemic has resulted in increased demand for safe patient care solutions like ‘Monidrop’. “We received a lot of contacts from distributors all over Europe as hospitals needing help quickly equipping their new hospital wards dedicated for Covid-19 patients.”, explains Monidor’s Sales Director Jan Prokofjeff. The pandemic has also pushed the company to create such a straightforward installation process that every nurse will be able to do the set up easily. This allows Monidor to distribute its product effortlessly even with the Covid-19 pandemic limiting social connections and travelling.

Monidor’s CEO Mikko Savola estimates the total market size for infusion devices to be around €8 billion in Europe, US and Japan. “The population is ageing and living standards are on a rise in Asia. The Infusion therapy market is continuously growing”, Savola continues, “at first, the growth for Monidor comes from the UK, Netherlands and DACH area”. 

“Finland has world’s leading health technology expertise and Monidor is a great example of a startup that has a unique and commercialisable solution for a global problem – patient safety and work balance of the nursing staff.” says Jussi Sainiemi, Partner of Voima Ventures.

EU-Startups

Zurich-based medtech startup Bloom Diagnostics wants to make blood testing easier and affordable

Based out of Zurich, Bloom Diagnostics develop devices that help users to keep a track, maintain, and improve their health. Recently, the company launched it’s testing device – ‘Blood System’, post-closing funding of €10 million Series B round back this May. 

Secure personal medical data

The company is on a mission to receive and secure personal medical data in a fast, affordable, and understandable way. The ‘Bloom System’ is designed specifically for patient use. The Bloom Test strips (pin-prick blood samples) are captured in a test strip and analysed in Bloom Lab. As per the company claims, it is maintenance-free by design and can be easily cleaned and updated when necessary.

Cloud solution developed over many years

The Bloom App explains the meaning of test results in a personalised, detailed report with actionable information. When a user performs a measurement, Bloom Analytics calibrates the raw measurement data on production-based calibration curves to deliver maximum accuracy. It then connects the results with self-reported symptoms to generate the medical analysis, which the Bloom App presents to the user, fully anonymously. 

It’s worth mentioning that Bloom Analytics is Bloom Diagnostics’ custom cloud solution developed over many years in close co-operation between medical experts, biotech specialists, cryptography enthusiasts, and production professionals.

“There is a need for a tertiary layer of diagnostic devices between individuals and the traditional healthcare system. This layer has seen its inception with products like the first LFA-based pregnancy tests in the 1970s,” explains co-founder and Chief Product Officer Thomas Kupper. “We think it’s overdue that this layer develops into something much more elaborate, helping individuals gain insights into their health in a wide range of situations. Combining those insights, globally, anonymized and in real time, will generate improvements that benefit the public.”

Dr. Angelica Kohlmann and Thomas Kupper founded Bloom Diagnostics with its headquarters in Zurich in Switzerland and offices in Vienna and New York.

Main image credits: Bloom Diagnostics

The post Zurich-based medtech startup Bloom Diagnostics wants to make blood testing easier and affordable appeared first on Silicon Canals .

Startups – Silicon Canals

Zurich-based medtech startup Bloom Diagnostics wants to make blood testing easier and affordable

Based out of Zurich, Bloom Diagnostics develop devices that help users to keep a track, maintain, and improve their health. Recently, the company launched it’s testing device – ‘Blood System’, post-closing funding of €10 million Series B round back this May. 

Secure personal medical data

The company is on a mission to receive and secure personal medical data in a fast, affordable, and understandable way. The ‘Bloom System’ is designed specifically for patient use. The Bloom Test strips (pin-prick blood samples) are captured in a test strip and analysed in Bloom Lab. As per the company claims, it is maintenance-free by design and can be easily cleaned and updated when necessary.

Cloud solution developed over many years

The Bloom App explains the meaning of test results in a personalised, detailed report with actionable information. When a user performs a measurement, Bloom Analytics calibrates the raw measurement data on production-based calibration curves to deliver maximum accuracy. It then connects the results with self-reported symptoms to generate the medical analysis, which the Bloom App presents to the user, fully anonymously. 

It’s worth mentioning that Bloom Analytics is Bloom Diagnostics’ custom cloud solution developed over many years in close co-operation between medical experts, biotech specialists, cryptography enthusiasts, and production professionals.

“There is a need for a tertiary layer of diagnostic devices between individuals and the traditional healthcare system. This layer has seen its inception with products like the first LFA-based pregnancy tests in the 1970s,” explains co-founder and Chief Product Officer Thomas Kupper. “We think it’s overdue that this layer develops into something much more elaborate, helping individuals gain insights into their health in a wide range of situations. Combining those insights, globally, anonymized and in real time, will generate improvements that benefit the public.”

Dr. Angelica Kohlmann and Thomas Kupper founded Bloom Diagnostics with its headquarters in Zurich in Switzerland and offices in Vienna and New York.

Main image credits: Bloom Diagnostics

The post Zurich-based medtech startup Bloom Diagnostics wants to make blood testing easier and affordable appeared first on Silicon Canals .

Startups – Silicon Canals