AngelMD Investor Group Closes Funding Round in Raydiant Oximetry
SEATTLE, Sept. 13, 2018
SEATTLE, Sept. 13, 2018 /PRNewswire-PRWeb/ -- Obstetrical providers struggle to interpret fetal heart rate patterns, a 50-year-old technology that has a staggering 89% false positive rate for detecting fetal distress. Raydiant Oximetry, Inc. from Mountain View, California has developed a safe and noninvasive technology that directly monitors a babies' oxygenation during pregnancy. For clinicians who are dissatisfied with the lack of tools available to assess the baby during childbirth, this technology will lead to improved decision making and better care to mother and baby.
Today, AngelMD is announcing the close of the latest syndicate investing in Raydiant Oximetry, as part of the company's $1 million Seed round of funding.
"I first learned of Raydiant Oximetry when they were one of many companies that we were vetting leading up to the 2018 Alpha conference," said AngelMD Lead Investor Dr. Wendy Whittington. "I thought that based on the beautiful simplicity of their science along with the potential market size that they were one of the most exciting companies I have reviewed. Admittedly as a pediatrician and a mother of many, I probably paid extra close attention to Raydiant. Their ability to more accurately detect fetal distress compared to the antiquated technology we are currently using is personal to me."
While there are many advantages to the Raydiant Oximetry solution, the most important of these is the ability to begin fetal monitoring in the third trimester, before cervical dilation. This is made possible by the use of non-invasive, trans-abdominal monitoring. This lies in stark contrast to previous attempts at fetal monitoring, which required placement of invasive probes into the uterus, as well as probes attached to the fetus.
"As a physician-entrepreneur, I appreciate the power of the AngelMD network," said Raydiant Oximetry CEO Dr. Neil P. Ray -- a board certified pediatric anesthesiologist. "From the investor perspective, the AngelMD diligence was rigorous and intense. On the other hand from the start-up perspective, raising money from the AngelMD network was seamless. Our team at Raydiant Oximetry looks forward to long-term success with AngelMD. And down the road, I will personally be investing through the AngelMD platform."
Raydiant Oximetry intends to use the funds to build a subsequent prototype with improved accuracy and reliability. The company has demonstrated feasibility of the technology in pregnant women through an IRB-approved study and validated the results through animal models. It holds two issued patents protecting the core technology, and expects up to ten more patents over the next 36 months.
AngelMD is an investment and networking platform connecting innovative medical startups, physicians, investors, and industry partners. Leading physicians from all over the US have joined AngelMD to help source, evaluate and advise companies in biotechnology, medical device, and healthcare technology. For more information, visit http://www.angelmd.co
About Raydiant Oximetry
Founded in 2016, Raydiant Oximetry, Inc. is a medical device company that has developed a novel fetal monitor to improve patient outcomes for both mothers and babies during childbirth. This safe, non-invasive technology is the first of its kind in the industry, and is poised to become the standard of care for fetal monitoring during childbirth. Raydiant Oximetry, Inc. is currently in residence at the Fogarty Institute for Innovation in Mountain View, California.