Vectorious Medical Technologies, an Israeli company developing a novel cardiac monitoring system for patients suffering from congestive heart failure (CHF), has closed a $5 million financing round. The new cash will be used to further develop the company’s product for human trials.
Investors in this round included the RadBioMed incubator, which is owned jointly by Yehuda Zisapel and Prof. Nava Zisapel; several private investors, including Zohar Gilon, Gur Muntzer and others; and the U.S.-based Global Cardiovascular Innovation Center (GCIC) of the Cleveland Clinic.
“This financing round is a vote of confidence on our groundbreaking CHF management approach, ” commented Oren Goldstein, Vectorious’s founder and CEO. “Our solution will make daily monitoring a routine activity for CHF patients and their physicians, similar to glucose monitoring for diabetes patients. This will lead to reduced CHF morbidities and readmissions, a higher quality-of-life for CHF patients, and huge financial savings to the health system.”
Vectorious Medical Technologies Ltd. is a privately-held Israeli medical device company developing a novel monitoring system for CHF patients based on a miniature wireless implant to enable daily “push button” readings of left atrial pressure, a platform that will enable a significant improvement in the management of congestive heart failure (CHF). The company boasts that its system implements a novel approach to long-term, implant-based hemodynamic monitoring that leverages state-of-the-art technologies in the areas of miniature sensing and wireless communications.
Market acceptance of the implantable hemodynamic monitoring approach to CHF management has been paved by the May 2014 FDA approval for commercial use of the CardioMEMS wireless implant device for monitoring patients with heart failure. The Company believes, however, that Vectorious’s differentiated monitoring approach, which is based on the measurement of left atrial pressure, provides an earlier and more specific cardiac indication than does the CardioMEMS device, which measures pulmonary artery pressure.