"We are very pleased to close this round of financing and are encouraged by the confidence demonstrated by our investors, including Sovereign's Capital and Bios Partners who led the round," said Kyle Chenet, Chief Executive Officer at 410 Medical. "This new investment will further support our commercialization of the LifeFlow within hospitals and expand our reach to EMS and other areas where this device could have an extraordinary impact."
The Company conducted a limited market release of LifeFlow in November 2016 through an early evaluation program, which yielded extremely positive results and feedback. Based on the success of this program, 410 Medical is expanding LifeFlow's release to hospitals and emergency medical services (EMS) organizations nationwide.
"As an early investor in 410 Medical, we are excited to see the significant progress that the 410 team has made," said Luke Roush, Chairman of 410 Medical's Board of Directors and Managing Principle at California-based Sovereign's Capital. "LifeFlow has received a very positive response from clinicians, hospitals, and investors. Sovereign's Capital is honored to participate in this round of financing and be part of this great team."
Severe sepsis affects over 1 million adults and children each year in the US. It is the most frequent cause of death in hospitalized patients and the leading killer of children worldwide. Early, rapid delivery of fluid is a life-saving therapy, yet medical providers often face difficulty delivering fluids efficiently using existing methods and technologies.
Founded in 2013, 410 Medical is a medical device company dedicated to developing innovative products that enable frontline medical providers to improve care for critically ill patients. 410 Medical's first product, LifeFlow®, is designed to enhance the speed and efficiency of fluid resuscitation, improving care for patients with life-threatening illnesses such as sepsis and shock. LifeFlow was cleared by the FDA for human use in 2016. For more information, visit www.410medical.com.
Bios Partners is a venture capital firm focused on investing in early-stage biopharmaceutical and medical device companies. Founded in 2014 and based in Fort Worth, TX, the firm utilizes an experienced team of industry professionals to actively collaborate with its investment portfolio companies and enhance stakeholder value. The investment in 410 Medical, Inc. is one of seven new investments made through the firm's recently closed Bios Fund I.
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