Innovative technology designed to keep mothers and babies safe during childbirth
MOUNTAIN VIEW, Calif. and SAN RAMON, Calif., Nov. 02, 2021 (GLOBE NEWSWIRE) — Fogarty Innovation, a nonprofit educational incubator for medical technology companies, announced today that its graduate, Raydiant Oximetry, Inc., has raised an oversubscribed round of $5 million Series A2 financing. The funding was led by Avestria Ventures, which invests in early-stage women’s health companies, and syndicated by KOFA Healthcare, V-Capital, Band of Angels, FemHealth Ventures, RHIA Ventures, SteelSky Ventures and Tri-Valley Ventures.
Raydiant Oximetry is a clinical-stage medical device company focused on improving women’s and neonatal health. Its innovation is LUMERAH™, the first-of-its-kind non-invasive fetal oximeter designed to more accurately detect fetal distress during labor and delivery. Current fetal monitoring technology has a low sensitivity that may lead to the failed identification of the distressed baby during labor and delivery, potentially contributing to subsequent newborn birth injury1. In addition, existing fetal monitoring technology has a low specificity, which can lead to the overuse of emergency C-sections2.
Initial preclinical results show that LUMERAH significantly improves sensitivity and specificity for the detection of fetal distress and consequently could improve outcomes for both mother and baby during childbirth. Because of its life-improving potential, the FDA has already granted LUMERAH Breakthrough Device status for expedited market approval.