HOUSTON, July 13, 2021 /PRNewswire/ -- IntuiTap Medical, a cutting-edge medical device company with technology poised to change the spinal tap, announced today the closing of their Series A investment round. The transaction was led by The Pink Ceiling, IntuiTap's largest investor, and Curate Capital. This latest raise will be used to take IntuiTap's novel VerTouch technology through final clinical trials at the University of Texas, the Medical University of South Carolina, and Rhode Island Hospital, and through a submission to the FDA for approval.
VerTouch eliminates the guesswork from spinal punctures, reducing physician frustration, patient pain, and costly trips to radiology. The current standard of care for spinal punctures requires physicians to feel patients' vertebrae and blindly insert a needle. This method results in first attempt failures in as high as 60% of cases, requiring multiple insertions to properly place the needle. IntuiTap's first in class technology eliminates that guesswork by providing physicians 2D imaging of the patient's vertebrae and needle guidance all in the palm of their hand. The device has demonstrated a 90+% single-insertion success rate, and can be used at the patient's bedside, significantly reducing the need for costly radiological intervention.
"IntuitTap and Jessica Traver-Ingram just changed the game for women's healthcare. The need to perform multiple dreaded spinal punctures due to high failure rates is now virtually eliminated thanks to an innovative new device. Patients get to breathe a big sigh of relief while the medical industry saves considerable time and money. That's a big win for everyone", said Cindy Eckert, CEO of The Pink Ceiling and IntuiTap Investor.
"At Curate Capital, we invest in businesses built by women for women," said Carrie Colbert, Founding Partner of Curate Capital and IntuiTap investor. "We love that IntuiTap is solving a literal pain point for millions of women! Beyond that, we invest in winning women – and that's exactly who Jessica Traver-Ingram is."
"IntuiTap is entering our exciting final step toward FDA approval. With the current capital raise and the strength of the caliber of investors we have in the company, we feel very optimistic about the lasting change we can make on the healthcare system," said Jessica Traver-Ingram, IntuiTap CEO, "Our device is going to save doctors' and patients' time, and reduce frustration, pain, and complications for one of the most common procedures in the hospital setting."
About IntuitTap Medical:
Founded in Houston in 2016, IntuiTap Medical is dedicated to developing solutions that improve the way spinal taps and epidurals are performed. IntuiTap's novel device, VerTouch, eliminates the guesswork from spinal-needle placements by providing physicians with real-time visualization of the underlying vertebrae. The VerTouch device will improve the accuracy, efficiency, and reliability of spinal puncture procedures, reducing physician frustration, patient pain and complications, and unnecessary costs to the healthcare system.
SOURCE Intuitap Medical, Inc.