PolyRemedy has closed a $20 million Series C financing led by Delphi Ventures. Current investors MedVenture Associates, Advanced Technology Ventures and Flybridge Capital Partners also participated. And as Xconomy notes, the money will go toward what Mark Carbeau, the company's president and CEO, calls its "Netflix of wound care" business.
The company, which has offices in Mountain View, CA and Concord, MA, will use the money to commercialize its personalized woundcare system, a novel approach to managing chronic wounds in home health care and other settings that integrates IT and personalized therapeutics. The company's offering allows home nurses interact with the PolyRemedy system through an application on a computer, tablet or mobile device, inputting factors on the patient's wound and treatment to produce the wound dressing recipe, Xconomy quotes Carbeau as saying--hence the Netflix analogy.
PolyRemedy's current key initiatives will include enhancing the PWS mobile software assessment tools and advanced analytics, increasing manufacturing capacity for the company's proprietary PolyFIT Antimicrobial Dressings, and building the sales and marketing team.
In its release, PolyRemedy notes it also has hired Cameron McKennitt as chief commercial officer to lead the sales and marketing organization. McKennitt previously worked at Kinetic Concepts and now will be responsible for building the teams and programs to support the company's growth in the home healthcare market and expansion into other care settings. "With Cameron joining the leadership team, we have added solid expertise as he brings a highly successful track record growing wound care therapeutics in our target markets," Carbeau says in a release.
- see the PolyRemedy release
- check out the Xconomy piece