Vancouver, BC – 30 January 2018 – Accel-Rx, Canada’s national health sciences accelerator, announced today it has invested in medical devices company Flosonics Medical.
The Sudbury-based company’s flagship smart-bandage product, FloPatch, addresses unmet clinical needs of critically ill patients and the physicians, nurses, and paramedics who care for them in the ambulance, emergency department, operating room, and intensive care unit.
“We are pleased to welcome Flosonics Medical to the Accel-Rx portfolio of companies,” said Natalie Dakers, President and CEO of Accel-Rx. “The company and its technology embody the profile of companies we actively seek to invest in and support through the Accel-Rx Growth Platform: a solid team, promising technology and the very real potential to address unmet critical needs in patient treatment and care. We look forward to providing the resources and expertise that will help them achieve their next level of development.”
“We’re excited to have Accel-Rx join our notable investment partners,” said Joe Eibl, CEO and Co-Founder of FloSonics Medical. “As Canada’s national health sciences accelerator, we welcome their support and mentorship as we advance the commercial development of our proprietary FloPatch technology.”
Accel-Rx joins the $5 million financing round led by iGan Partners along with other investors including Genesys Capital, MaRS Investment Accelerator Fund, MaRS Catalyst, Angel One, and Northern Angels.
The second investment in medical devices for Accel-Rx, Flosonics’ technology is a non-invasive means of monitoring critically ill patients during the early stages of shock inside and outside the hospital. FloPatch is an easy-to use wearable sensor that adheres to the patient’s neck and detects blood flow following clinical interventions.
“Until now, there have been no tools that give clinicians physiological feedback on the effectiveness of their resuscitation, especially in the early stages of care,” said Dr. Jon-Emile Kenny, Chief Medical Officer of Flosonics Medical. We believe FloPatch has the potential to provide a fast and effective way of monitoring critically ill patients in the ambulance, emergency room, and intensive care unit.