Digital health startup InfoBionic secured $17 million in Series B financing in support of its remote patient monitoring platform.
InfoBionic plans to use the funds to commercialize its MoMe monitoring platform, which utilizes cloud, smartphone and web services that connect with sensors worn by patients. The company’s current focus is on cardiac arrhythmias.
Funding was led by lifesciences investment group Safeguard Scientifics, which acquired a 20% stake in the emerging company. Safeguard partner Al Wiegman also joined InfoBionics’ board of directors.
InfoBionics, which has headquarters in Pennsylvania and Massachusetts, is developing remote patient monitoring systems that it calls the first of its kind.
"The MoMe System is the first cloud-based, Multi-pass Analysis universal remote patient monitoring platform that provides unprecedented analytics with seamless transition between Holter, Event, and Mobile Cardiac Telemetry monitoring modes in one device," according to a press release. "MoMe Kardia is poised to revolutionize the $3B worldwide cardiac monitoring market by delivering superior arrhythmia detection and on-demand access to patient data for diagnosis."
The technology combines patient-worn sensors with continuous smartphone-based data capture and transmission to remote servers. The system analyses data and allows access from authorized users over the internet on any computer or mobile device.
"This financing marks a significant milestone for our company’s development, expansion and commercialization," InfoBionic CEO Nancy Briefs said in prepared remarks. "We are excited to partner with our current investors as well as Safeguard Scientifics to launch our lead product, the MoMe System, later this year."