Linear Health Sciences Announces Additional Funding of $1.5 Million for Orchid Safety Release Valve
Linear Health Sciences | December 12, 2017
Linear Health Sciences today announced additional investment funding of $1.538 million, bringing total company financing to nearly $3 million. Linear Health Sciences is the developer of the Orchid Safety Release Valve (SRV)™ and other safety solutions for medical tubing.
The new round of funding was led by i2E Inc., a nonprofit corporation that invests in Oklahoma-based technology start-up companies. Additional investors also contributed to the funding round.
“I’m gratified to have i2E remain our lead investor for our Series A equity financing,” said Ryan Dennis, MD, CEO, and co-founder of Linear Health Sciences. “The excitement in the investor community about our game-changing technology is reflected by the nearly immediate oversubscription of this latest offering. Having raised almost $3 million dollars, Linear Health is poised for a powerful market launch in 2018,” Dr. Dennis said.
“We are pleased to be able to lead this latest funding round for Linear Health Sciences and have been very impressed with the progress the company has made to date. We believe the disruptive SRV technology will have a profound positive impact on the quality of hospital care that millions of children and adults will receive in the future,” said Scott Meacham, president and CEO of i2E Inc. i2E receives state support from the Oklahoma Center for the Advancement of Science and Technology and is an integral part of Oklahoma’s Innovation Model.
Linear has been innovative in plotting its growth, leveraging both private investments and the strengths of accelerator programs to help navigate the phases of product development. Chosen as a semifinalist in the Medtech Innovator 2016 competition, the company received a scholarship into the Medtech Innovator’s Virtual Accelerator program. That work focused on product concept.
