Alydia Health (formerly known as InPress Technologies, Inc.), a Menlo Park, Calif.–based medical device company developing a technology product for treating Postpartum hemorrhage, one of the leading causes of maternal injury and death during birth, closed an initial $10m in Series B financing.
The round was led by the Global Health Investment Fund (GHIF), with participation from Astia Angels and other existing investors. In conjunction with the funding, Curt LaBelle, M.D., Managing Partner at the Global Health Investment Fund, will join the company’s board of directors.
The company intends to use the funds for a U.S. pivotal study of its innovative technology designed to prevent the maternal morbidity and mortality caused by postpartum hemorrhage.
Led by Anne Morrissey, CEO, Alydia is advancing a product designed to achieve rapid cessation of bleeding by encouraging the uterus to contract quickly and naturally compressing the open blood vessels. In a pilot study of 10 patients published in Obstetrics & Gynecology, the device rapidly and effectively controlled postpartum bleeding, with hemorrhage controlled within minutes for each mother.
Building on the results of this feasibility trial, the company has initiated the PEARLE Study to support its planned 510(k) submission to the U.S. Food and Drug Administration (FDA) for marketing clearance. The study will evaluate the safety and effectiveness of the device in 107 deliveries at leading hospitals in the United States.
Alydia Health is a graduate of the Fogarty Institute for Innovation and the Cal Poly Center for Innovation and Entrepreneurship (CIE).
FinSMEs
20/09/2018