Liberate Medical, an emerging leader in the development of novel non-invasive neurostimulation devices focused on transforming respiratory care, announced today the successful closure of its $6.2M Series B financing round.
Series B Co-Led by a Large Strategic Investor and Scientific Health Development to Support the Pivotal Clinical Trial of the VentFree® Respiratory Muscle Stimulator
CRESTWOOD, Ky.--(BUSINESS WIRE)-- Liberate Medical, an emerging leader in the development of novel non-invasive neurostimulation devices focused on transforming respiratory care, announced today the successful closure of its $6.2M Series B financing round. The funding was co-led by a large strategic investor and Scientific Health Development, who will both join Liberate Medical’s Board, solidifying Liberate Medical’s position as a leading innovator in respiratory and critical care.
Liberate Medical’s VentFree Respiratory Muscle Stimulator is the only non-invasive, breath synchronized, neuromuscular electrical stimulator intended to prevent expiratory muscle atrophy in mechanically ventilated patients. A key focus of the funding will be to support the pivotal clinical trial of VentFree, known as the PREVENT trial. The PREVENT trial aims to demonstrate that VentFree reduces the duration of invasive mechanical ventilation in patients that are at risk of being difficult to wean. Reducing the time patients spend on mechanical ventilation may reduce the risks of prolonged mechanical ventilation, including hospital acquired infections, deteriorated quality of life and death. The Series B funding will provide the necessary resources to complete the PREVENT trial, in anticipation of FDA regulatory clearance and full commercial launch of VentFree.
The PREVENT trial follows two successful pilot randomized controlled trials that were completed in Europe and Australia. VentFree has FDA Breakthrough Device Designation, FDA Emergency Use Authorization and CE marking in the European Union.
“We are thrilled to have Scientific Health Development and our strategic partner join us as co-leads in this Series B financing round,” said Angus McLachlan, CEO of Liberate Medical. “Their support and expertise will be instrumental as we conduct the PREVENT trial and prepare for full commercialization of VentFree.”
“SHD is proud to support Angus and the Liberate Medical team,” said Andrew Offer, General Partner and CEO of Scientific Health Development. “I am honored to join the board of directors and play a role in changing the standard of care for weaning mechanically ventilated patients. VentFree will improve quality of life for patients and their families.”
About Liberate Medical
Liberate Medical is a medical device company that develops neuromuscular electrical stimulation technology to improve the quality and reduce the cost of care for patients with pulmonary disorders. For more information, please visit https://liberatemedical.com.
About Scientific Health Development
Scientific Health Development (SHD) is a Dallas-based venture capital firm focused on early-stage investments in high-impact medical device and diagnostics companies across a variety of specialties. Formed in 2006, SHD is motivated to improve patient outcomes and healthcare economics. The firm is actively investing out of its fourth fund. www.shdpartners.com.
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Source: Liberate Medical
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