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MATTER Shoutouts: September 20, 2018
Every day, innovators across the MATTER community are building new solutions that accelerate innovation, advance care and improve lives. Here’s a look into the most noteworthy headlines from the past few weeks.
Endotronix raises $45M for next-generation heart failure treatment
Cardiac medical device startup Endotronix recently closed a $45 million Series D financing round for the commercialization and clinical development of two of their products: an implantable heart failure sensor and a remote patient monitoring and analytics platform. Since its inception in 2007, Endotronix has raised more than $100 million in funding.
Heart failure is a leading cause of re-hospitalization for people over 65 with treatment costs reaching $31 billion per year. Endotronix’s Cordella System provides early detection of worsening heart failure through a sensor that is implanted directly into a patient’s artery. Doctors can easily capture, chart and analyze patient data and treat patients using guideline-based therapy — whether the patient is in the hospital or at home.
See the article in Crain’s and read the press release.
PhysIQ adds AFib detection to their list of FDA-cleared products
PhysIQ, a leader in personalized physiology analytics, recently received FDA 510(k) clearance for their latest product, an atrial fibrillation detection analytics engine. The company’s technology uses wearable biosensors, mobile cloud computing and analytics to help clinicians identify which of their patients may require additional care. The AFib detection algorithm is PhysIQ’s second product to receive FDA clearance.
“Since day one, our mission has been to enable a world where real-time patient data continuously streams to the cloud and artificial intelligence performs the hard work of detecting when health problems are arising among monitored patients,” said Gary Conkright, CEO of PhysIQ. “With this approach, clinicians can identify who within their monitored population may require additional care to avoid poor health outcomes. This clearance of our AFib detection algorithm, when paired with our groundbreaking and previously cleared personalized physiology analytics, is a huge step towards realizing that goal.”
Learn more in MobiHealth news and read the press release.
Sparrow Pharma gets exclusive
Sparrow Pharmaceuticals recently announced that they’ve entered into a licensing agreement for the worldwide exclusive rights to two Astellas compounds. Sparrow — a biopharma company focused on developing safer corticosteroids — will use these compounds to block the common adverse effects of corticosteroids, without altering corticosteroid effectiveness. Both Astellas compounds have shown promise for mitigating side effects in previous clinical trials conducted by Astellas.
“We’re excited by this opportunity to develop new treatment options that are effective, safe, cost-effective and convenient for patients with polymyalgia rheumatica and other diseases,” stated Dr. David Katz, founder and CEO of Sparrow, in the press release. “We look forward to building upon the high-quality data generated by Astellas, and to advancing the compounds for patients who can benefit from corticosteroid therapy but suffer from, or are concerned about, adverse effects.”
Score one for healthcare interoperability (Redox Platform wins patent)
Redox, a trailblazer in healthcare interoperability, was recently awarded a patent for its EMR integration technology. Redox simplifies how organizations exchange data by streamlining data formats for secure and efficient data exchange. Healthcare delivery organizations and technology vendors connect once and authorize the data they send and receive — making it possible to scale and share data to other members in the growing Redox network.
James Lloyd, co-founder of Redox stated in the press release, “The Redox Platform establishes reusable infrastructure to scale healthcare data exchange across many partners. This approach fundamentally changes the way healthcare organizations exchange data. We believe the methodology covered by this patent is the key to solving healthcare’s biggest interoperability challenges.”