With eyes on FDA nod, Ivenix bags first of $50M for next-gen infusion pump

With its next-gen system, Ivenix aims to solve problems that plague infusion pumps. (Credit: Ivenix)

Ivenix reeled in the first tranche of $50 million in equity, which will support its bid for FDA clearance as well as a personnel expansion for the commercial launch of its infusion pump. The company will pick up the remaining funds when it meets regulatory milestones.

Infusion pumps are used to deliver fluids, including nutrients and drugs, to patients. With its next-generation system, Ivenix aims to tackle a number of issues that can affect these pumps.

Between 2005 and 2009, the FDA reported about 56,000 adverse events, including injuries and deaths, linked to these pumps. While some were caused by user error, the FDA noted that many stemmed from “deficiencies in device design and engineering.” These include software problems, alarm malfunctions and poor user interface design.


Like this story? Subscribe to FierceBiotech!

Biopharma is a fast-growing world where big ideas come along every day. Our subscribers rely on FierceBiotech as their must-read source for the latest news, analysis and data in the world of biotech and pharma R&D. Sign up today to get biotech news and updates delivered to your inbox and read on the go.

“A number of factors are fueling investor interest in Ivenix, including the lack of innovation in the market, and the incidence of errors in infusion administration,” Iveni CEO Stuart Randle said in a statement. “Our system represents a complete redesign of the infusion pump from the ground up, with fully integrated technology to support interoperability and improved safety and performance.”

The system comprises a new pump technology and a smartphone-like user interface, as well as an IT system that easily integrates data from the device into a patient’s electronic medical record.

Two new, undisclosed investors led the financing, while existing backers F-Prime Capital Partners and WuXi Healthcare Ventures also participated. Ivenix previously raised $42 million in 2015.

Suggested Articles

By employing heart rate signals, physical activity and sleep quality, common Fitbit trackers may be able to predict the spread of the flu.

Nanox has raised $26 million to help fuel the development and commercialization of its Star Trek-inspired digital X-ray bed.

Oncology is clearly a major medical and societal issue, but one that sees too much focus from biopharmas at the expense of other killers.