410 Medical said it raised a $3.3 million Series A round for its LifeFlow resuscitation device.
The Durham, N.C.-based company’s LifeFlow is rapid infuser designed to deliver 1 liter of crystalloid fluid through a 20-gauge IV catheter in 5 minutes, for front-line treatment of patients needing urgent fluid delivery.
The A round was led by private equity shop Bios Partners, 410 Medical said; Bios was joined by 4 other investors, according to a regulatory filing. The company reported raising $2.2 million in a regulatory filing last September.
“We are very pleased to close this round of financing and are encouraged by the confidence demonstrated by our investors, including Sovereign’s Capital and Bios Partners who led the round,” CEO Kyle Chenet said in prepared remarks. “This new investment will further support our commercialization of the LifeFlow within hospitals and expand our reach to EMS and other areas where this device could have an extraordinary impact.”
“As an early investor in 410 Medical, we are excited to see the significant progress that the 410 team has made,” added chairman Luke Roush, managing principal at Sovereign’s Capital. “LifeFlow has received a very positive response from clinicians, hospitals, and investors. Sovereign’s Capital is honored to participate in this round of financing and be part of this great team.”
410 Medical said it launched the LifeFlow device on a limited basis in November 2016 and plans to use the cash to fund its move into the hospital and emergency medical services markets.