By Dave Muoio
MobiHealthNews — CloudCath, the maker of a remote monitoring platform for catheter-based treatments, has closed a $12 million Series A financing round. Capital Integral headlined the raise, which also saw investments from FundRx, The Capital Partnership, Coconut Tree Investments, Stanford University’s StartX Fund and other unnamed strategic and individual investors.
CloudCath’s initial product is a connected device and monitoring software designed for end stage renal disease patients receiving peritoneal dialysis in their homes. Placed around the bloodline tubes of a dialysis system by the patient, the device analyzes drainage fluid and, using proprietary algorithms, detects deviations in fluid property.
The device transmits notifications of such complications to the patient’s provider using a built-in LTE module. These alerts are surfaced on a patient management portal employed by their provider.
“End-stage renal disease, one of the costliest chronic diseases in the U.S., is devastating to patients,” Aly ElBadry, CEO and cofounder of CloudCath, said in a statement. “The CloudCath technology enables patients and caregivers to easily monitor fluid parameters for early signs of complications, including infection, in real time, allowing dialysis providers to intervene much earlier than the existing standard of care.”
The startup said in its announcement that its raise will support commercialization of its first product, as well as the development of more applications built on their remote monitoring tech.
“This funding will speed commercialization of the CloudCath system, pending FDA clearance, and will also support our goal of offering remote monitoring for infectious disease management in multiple additional applications,” ElBadry said. “We are looking forward to enabling better patient care and to playing an integral part of the big data revolution in infectious disease healthcare management.”