Retia Medical has announced it had raised US$7 million in Series A funding. The Pritzker/Vlock family office led the investment in Retia, which was co-founded by Rama Mukkamala, associate professor of Electrical and Computer Engineering at Michigan State University (MSU), and Marc Zemel, CEO, experienced entrepreneur and formerly of Becton Dickinson.
Retia has created a new, less-invasive system to monitor cardiac output and other key measures of the cardiovascular system accurately when patients go into shock. This system is based on a core platform technology that was developed at MSU.
“The literature is rife with case studies showing how current less-invasive technologies fail during hemodynamic instability,” said Mukkamala, “We performed competitive testing during similar conditions and showed dramatic improvements in accuracy with Retia’s monitor that can lead to better clinical decision making.”
“Our vision is to enable physicians to achieve better patient outcomes via improved monitoring,” said Zemel. “Retia’s cardiac output monitor can help clinicians detect when patients go into shock, make faster diagnoses, and optimise fluid and vasoactive drug administration.”
“With this technology platform, we have the potential to develop advanced monitoring of heart failure and hypertension patients in the hospital or at home,” continued Zemel.
Using the proceeds from this Pritzker/Vlock family office financing, Retia will complete product development, submit regulatory filings and launch its minimally invasive, cardiac output monitor.