Israel-based medical device developer Vectorious Medical Technologies closed $5m in series A funding yesterday from investors including Global Cardiovascular Innovation Center, a subsidiary of healthcare provider Cleveland Clinic.
The round, which also featured incubator RadBioMed and private investors including Zohar Gilon and Gur Muntzer, will support the first in-human trials for Vectorious’ lead product in the US and Israel.
Vectorious is working on a cardiac monitoring system that uses a miniature wireless implant to monitor patients that suffer from congestive heart failure (CHF).
Oren Goldstein, founder and chief executive of Vectorious, said: “We are gratified to close this major financing round, a vote of confidence that these strategic investors have made for our groundbreaking CHF management approach.
“Our solution will make daily monitoring a routine activity for CHF patients and their physicians, similar to glucose monitoring for diabetes patients. This will lead to reduced CHF morbidities and readmissions, a higher quality-of-life for CHF patients, and huge financial savings to the health system.”