Retia Medical pulls in $7M Series A round

Michigan's Retia Medical has developed a less-invasive platform to monitor cardiac output, and now the firm has $7 million to finish developing the tech and start the regulatory process.

The Pritzker/Vlock family office led the Series A round, and Retia is confident that its device can deliver results on par with invasive pulmonary artery catheters, but without the same procedural intensity. Less-invasive monitoring options exist, but they're not nearly as reliable, co-founder Rama Mukkamala said in a statement.

"The literature is rife with case studies showing how current less-invasive technologies fail during hemodynamic instability," Mukkamala said. "We performed competitive testing during similar conditions and showed dramatic improvements in accuracy with Retia's monitor that can lead to better clinical decision making."

The device is designed to help clinicians detect when patients go into shock, making faster diagnoses and decisions on drug administration, the company said. Retia estimates that around 15 million surgical patients and 3 million intensive care patients around the world could benefit from its technology.

The company, founded by Mukkamala and CEO Marc Zemel, bases its device on a platform technology developed at Michigan State University, where Mukkamala is a professor.

- read Retia's release

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