Johns Hopkins spinout Vixiar Medical raised a $1.5 million seed round, according to CEO Kevin Thibodeau.
The funding was provided by the Abell Foundation and TEDCO, as well as Kacero Holdings, BV and an unnamed Chinese medical device and services investment firm.
In addition to receiving funding, the Annapolis-based company will be moving to Baltimore. Thibodeau, who joined the company in January, said the move is a result of the Abell Foundation support. He did not disclose the location.
Vixiar’s product, called Indicor, is a handheld device and corresponding Android app that helps patients monitor worsening heart failure. The device is non-invasive, and measures cardiac filling pressure. It’s designed so it can be used in a variety of settings, including those outside the clinic.
The company will look to hire about 4-5 key positions in engineering and regulatory to its three-person team as a result of the funding.
The funding comes after a couple years of development. Thibodeau said the startup completed multiple studies at Johns Hopkins, and the device has been tested with 400 patients. The company is looking to begin another study next month with Stony Brook Medicine in New York. The company is working toward gaining FDA approval and a CE mark in Europe to bring the product to market.
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