InfoBionic brings in first tranche of $17M round to develop its cloud-based patient monitoring system

MoMe patient monitoring system--Courtesy of InfoBionic

InfoBionic raised the first tranche of $17 million in Series B financing to develop its innovative patient monitoring system for cardiac arrhythmia.

Safeguard Scientifics led the round, and previous investors such as Mass Medical Angels, Broadview Ventures, Beta Fund, and Launchpad Venture group also contributed funding. InfoBionic plans on using proceeds to market its MoMe patient monitoring device in the United States and Europe, the Massachusetts-based company said in a statement. Safeguard will also acquire a 20% share in the company through the transaction.

InfoBionic's cloud-based monitoring device helps physicians quickly diagnose and treat patients with cardiac arrhythmia. It features interfaces on multiple devices so patients and doctors can easily share data. By developing its MoMe system, the company hopes to cash in on a $3 billion worldwide cardiac monitoring market, InfoBionic said in a statement.

"This financing marks a significant milestone for our company's development, expansion and commercialization," CEO Nancy Briefs said in a statement. "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."

- read the release

Suggested Articles

Flatiron has hired a new chief medical officer as it looks to push on under its new parent in the world of electronic health records and real-world data.

Saga Diagnostics has raised 40 million Swedish kronor, or about $4.1 million, to help develop its ultrasensitive cancer liquid biopsy tests.

Terumo will help Orchestra BioMed develop its sirolimus-eluting balloon in both coronary and peripheral cardiovascular interventions.