21 Jun, 2017, 07:15 ET
DURHAM, N.C., June 21, 2017 /PRNewswire/ -- 410 Medical, Inc., a medical device company focused on developing innovative technologies for the resuscitation of critically ill patients, today announced it has received $2.1 million in additional funding for its Series A financing, bringing the Series A total to $5.3 million. Included among the new investors is Triangle Venture Alliance (TVA), a newly formed alliance among angel networks at Duke University, North Carolina State University, North Carolina Central University and the University of North Carolina at Chapel Hill.
TVA's funding of 410 Medical represents the first investment made by the Alliance and will further support the commercialization of the LifeFlow Rapid Infuser. "Providing growth capital to companies like 410 Medical is the key to the continued economic success of our region. The LifeFlow product and the potential that it offers clinicians to impact patient health strongly resonated with our investor network," said Joe Sinsheimer, Managing Director for NC State's Wolfpack Investor Network.
LifeFlow is an easy-to-use device that allows for the rapid delivery of fluids in patients with sepsis, shock or other emergency conditions. Based on the positive feedback and the early success of the limited market release, 410 Medical is currently expanding LifeFlow's release to hospitals and emergency medical services (EMS) organizations nationwide.
"410 was started in North Carolina and LifeFlow is manufactured here. Adding UNC, Duke and NC State, through the Triangle Venture Alliance, to our investor syndicate further strengthens our foundation in North Carolina and expands our access to an exceptional network of clinicians, investors and other professionals who are part of these outstanding institutions." said Kyle Chenet, President and Chief Executive Officer at 410 Medical. "We are honored to be TVA's first investment, and we look forward to partnering with them and all of our investors to execute on our mission of enabling front line providers to deliver life-saving fluids to critically ill patients."
About 410 Medical, Inc.
Founded in 2013, 410 Medical is a medical device company dedicated to developing innovative products that enable frontline medical providers to improve care for critically ill patients. 410 Medical's first product, LifeFlow®, is designed to enhance the speed and efficiency of fluid resuscitation, improving care for patients with life-threatening illnesses such as sepsis and shock. LifeFlow was cleared by the FDA for human use in 2016. For more information, visit www.410medical.com.
SOURCE 410 Medical, Inc.
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