Next-gen infusion pump startup Ivenix nabs $42M to get to market

Ivenix Infusion Management System--Courtesy of Ivenix

Infusion pumps are one of the more problematic categories of medical devices with myriad adverse events, including deaths, and recalls associated with the devices. Ivenix expects that its next-gen infusion management system could improve patient safety and workflow efficiency--as well as to adhere to more stringent FDA guidance on infusion systems issued in December.

Now, the Amesbury, MA-based startup has garnered $42 million to get this next-generation infusion system onto the market.

"The Ivenix Infusion Management System is designed to address all the major pain points that exist with older systems," Jesse Ambrosina, co-CTO and VP of Infusion Systems at Ivenix, said in a statement. "Our team has completed hundreds of hours of testing, and we're on track to deliver a system that not only fully adheres to the current FDA guidelines, but is also cost-effective."

The system includes a new pump delivery system, that delivers drugs at a steady, consistent rate and doesn't require adjustment by nurses for proper bag height or pump delivery setting; an updated interface that guides nurses through the setup process and offers alerts for potential complications; and an IT system that easily integrates device data into a patients electronic medical record.

The FDA received more than 56,000 adverse event reports about infusion pumps between 2005 and 2009, including serious injuries and 710 deaths, the company noted. During that period, there were also 87 infusion pump FDA recalls due to safety concerns.

"From the start, we worked closely with nurses and other key stakeholders to understand their workflow and priorities," George Gray, co-CTO and VP of Information and Software Systems at Ivenix, said in a statement. "Those conversations have allowed us to develop a completely fresh, fully-integrated infusion management system--designed to prevent the errors inherent in currently-available systems, and enable clinicians to spend more time on what really matters--patient care."

The financing was led by WuXi Healthcare Ventures with participation from Cardinal Partners, CICA, Easterly Capital, Fidelity Biosciences and SCP Vitalife Partners. Leerink Partners was the placement agent.

- here is the statement