PyrAmes Raises $6 Million in Series A Financing
CUPERTINO, Calif., April 20, 2021 (Newswire.com) - PyrAmes, Inc., a digital healthcare company focused on innovative products for continuous blood pressure monitoring, today announced the completion of a $6 million Series A financing. The investment round was led by GSR Ventures, with co-investments from Keytone Ventures, XTX Ventures and other investors.
"We are very pleased to secure this financing, which will accelerate the commercialization of our novel products for the benefit of both patients and clinicians," said Xina Quan, Ph.D., Co-Founder and Chief Executive Officer, PyrAmes. "We are also thrilled to have the support of experienced digital healthcare investors such as GSR Ventures, Keytone Ventures and XTX Ventures, and world-renowned clinicians such as Dr. Thomas Fogarty, Dr. Thomas Krummel, and Dr. Peter Fitzgerald, as we develop our innovative platform."
Proceeds from the financing will be used to further develop the Company's technology through pilot-scale manufacturing, clinical validation studies, and regulatory agency reviews. The Company's lead product, Boppli™, is designed for infants in the neonatal intensive care unit (NICU). At present, the only means for obtaining continuous blood pressure measurements in the NICU is to insert an arterial catheter, which is highly-invasive and can lead to severe complications for patients. Boppli™ is a wireless sensor band that can easily be placed around the baby's wrist or foot. It is intended to continuously measure blood pressure without the risks associated with an invasive arterial line. Follow-on products are planned for adults in both inpatient and at-home settings.
PyrAmes is a development-stage digital health company focused on transforming the delivery of health care through continuous blood pressure monitoring that is accurate, wireless and non-invasive. The comfort and ease of use of our platform has the potential to provide better blood pressure management for patients ranging from newborns to seniors.
The FDA has granted Breakthrough Device Designation for our lead product Boppli™, which fills the unmet need of monitoring the blood pressure of critically ill infants when an invasive arterial catheter cannot be used due to the risk of complications and adverse effects. For more information, visit www.pyrameshealth.com.
Xina Quan, Ph.D., Co-Founder & CEO
Source: PyrAmes, Inc
Categories: Medicine and Healthcare