Australian medtech developer ImpediMed said last week it inked a 3-year joint development deal with the Mayo Clinic.
ImpediMed develops and distributes medical devices which use bioimpedance spectroscopy to provide non-invasive monitoring of fluid status in patients.
ImpediMed said it will work with the Mayo Clinic to develop new body composition and fluid status monitoring tech for additional disease indications for its bioimpedance spectroscopy technology.
“There are multiple clinical areas where fluid management is critical. We welcome the opportunity to work with Mayo Clinic, which is known globally as a leader in technology-driven healthcare improvements. Our goal is to uncover new solutions to increase the quality of life for patients. In order to achieve this, we must develop solutions that are both clinically relevant and cost efficient,” CEO Rick Carreon said in a press release.
Through the deal, both groups will jointly develop new product solutions for patients with chronic diseases, while also focusing on improving the quality, outcomes and costs of patient care, ImpediMed said.
“We are pleased to continue to build our relationship with ImpediMed. By working together we hope to continue to improve care and reduce costs, across additional episodes of care,” Mayo Clinic Ventures vice chair Andy Danielsen said in prepared remarks.
In March, ImpediMed said it closed a $56.6 million (AUD $75.1 million) private placement financing round.
Funds from the round are slated to expand sales and marketing for its L-Dex unilateral lymphedema assessment system and allow for “balance sheet flexibility” and working capital to drive growth of the L-Dex in the U.S. and internationally.
ImpediMed said the L-Dex is the 1st FDA cleared device designed to assess secondary unilateral lymphedema of the arm and leg in women, and the leg in men.
ImpediMed said funds will also go towards pursuing the chronic heart failure business, including completing a 510(k) and conducting a clinical trial based around CHF, as well as to strengthen its balance sheet.
