SINGAPORE, Sept. 22, 2020 /PRNewswire/ -- PEDRA™ Technology, a Singapore-based developer of innovative deep-tissue perfusion monitors, today announced the completion of $4.7M Series A financing, with investors including SEEDS Capital, the investment arm of Enterprise Singapore, M&L Healthcare Investments and two strategic manufacturers of peripheral vascular devices.
The funding will support development of a first-generation system to assess perfusion non-invasively, and will drive a robust clinical program to establish perfusion monitoring as a new standard of care in the treatment of peripheral arterial disease (PAD) and critical limb ischemia (CLI). The technology will also pave the way to improved detection of compromised tissue perfusion in diabetic feet, which will allow for better triage towards appropriate treatment pathways. The product is not yet available for sale in the U.S.
"Our strategic investors understand the complexities and unmet needs that PEDRA Technology seeks to address in putting an easy-to-use method for assessing foot tissue perfusion into the hands of physicians," said Kareen Looi, CEO of PEDRA Technology. "In working with them, we are poised for rapid growth with partners who have deep experience in launching new technology that improves patient outcomes."
"PEDRA Technology's specialized monitoring platform and its demonstration of the clinical potential for perfusion monitoring, backed by its strategic relationships, made the company a compelling investment, in line with our fund's focus on innovative platform medical technologies," said Geoffrey Yeo, General Manager of SEEDS Capital. "With physicians and industry partners demanding more effective tools for optimal treatment of patients with PAD and CLI, we believe PEDRA Technology's perfusion monitoring technology will drive the use of precision data to inform towards better clinical outcomes, and add to Singapore's vibrancy as a medical technology hub."
Steven Kum, MD, vascular surgeon, commented, "Kareen and her team have a track record of success in innovating to need. A perfusion monitoring system is an essential tool in the diagnosis and treatment of PAD. I look forward to the buildup of clinical data to show how we can use this to enhance early detection of PAD, as well as how it will facilitate decision-making during and after revascularization procedures. This may ultimately help in the long-term goal of reducing the cost burden on our health care system."
About PEDRA Technology, Inc.
PEDRA Technology is a medical device company that focuses on the use of tissue perfusion monitoring in the field of peripheral artery disease (PAD) and critical limb ischemia (CLI). PEDRA Technology's perfusion monitoring system is in advanced development and is not currently approved for sale in the U.S. Learn more at PEDRAtech.com.
About SEEDS Capital
As the investment arm of Enterprise Singapore, SEEDS Capital co-invests with independent investors into innovative Singapore-based startups with strong intellectual content and global market potential. Post-investment, SEEDS Capital helps startups commercialize and expand globally through leveraging on the expertise and strategic networks of co-investment partners in areas such as technology translation, commercialization and market expansion. Through co-investments, SEEDS Capital aims to catalyze investments into nascent and strategic sectors, including Advanced Manufacturing & Engineering, Health & Biomedical Sciences, Urban Solutions & Sustainability, and Services & Digital Economy. Learn more at SEEDS Capital.
About M&L Healthcare Investments
M&L Healthcare Investments is a wholly-owned subsidiary of a Singapore-based family office. The team is made up of members experienced in both the clinical and financial sectors. M&L Healthcare's investment mandate is to drive sustainable development through strategic investments in cutting-edge medical devices that fill an area of need; particularly in the Cardiovascular, Surgical and Urological segments. Learn more at M&L Healthcare Investments.
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SOURCE Pedra Technology, Inc.