Catheter developer Spinal Singularity raised $3.1 million in a seed funding round to support its Connected Catheter designed for adult males with chronic lower urinary tract dysfunction.
The funding round was led by Baker & Eastlack Ventures and joined by Western Technology Investments, YCombinator, Santa Barbara Angels, OC Service Academy Anges, SV Tech Ventures, Storm Industries, Particular Ventures, IverNet Holdings and other angel investors.
The San Clemente, Calif.-based company said it has earned over $500,000 in non-dilutive fundings from the National Institutes of Health, the National Science Foundation, IndieGoGO, the Prime UC Competition, UCLA Business Plan competitions and other sources.
“I continue to be amazed by our team! The knowledge, passion, and experience they bring to develop our life-changing product is truly noteworthy. I couldn’t think of a better group to lead our company as we move into clinical testing,” founder Derek Herrera said in a press release.
Funds raised will help support the clinical validation of the Connected Catheter, designed to last 29 days in the body and intended to reduce urinary tract infections and replace as many as 200 disposable intermittent catheters, the company said.
Spinal Singularity is hopeful to begin 1st-in-human testing this year and plans to submit applications for CE Mark approval and FDA clearance next year.
“I am confident that your Connected Catheter technology stands to make a significant clinical impact on the male urologic patient population, and I am pleased to have my staff and facilities involved in its further development, clinical validation, and commercialization,” Dr. Jaime Landman of the University of California, Irvine said in a prepared statement.
