Fluidx Medical Technology announces Series A led by multinational strategic investor
SALT LAKE CITY, December 1, 2021 / PRNewswire / – Fluidx Medical Technology, a privately held medical device company founded to develop GPX, an innovative embolic material, and other technology today announced the oversubscribed closing of the first tranche of its Series A funding round Series A was led by a large multinational strategic investor and joined by its existing investor base as well as several new investors. The funding will be used to support prospective clinical trials, including the pivotal trial, as well as market entry readiness.
“GPX was fairly straightforward to set up, deliver and control,” said Dr. Andrew Holden, MD, MBChB, FRANZCR, EBIR, ONZM, Director of Interventional Radiology, Auckland City Hospital, Auckland, New Zealand. “The material is very radiopaque during delivery and has demonstrated excellent distal penetration, particularly important in our cases of tumor embolization.”
Embolic devices are widely used to stop blood flow for the targeted treatment of hypervascular tumors, vessel malformations, internal bleeding, and other cancer-related uses. Challenges with embolic devices today can include complicated preparation processes, visibility issues during device delivery, reliance on the body’s coagulation situation, and lack of full penetration of the vascular beds. and tumor feeder vessels.
The GPX Embolic Device is an innovative embolic device designed for simple preparation and rapid delivery of material. GPX technology is a low viscosity aqueous solution in a syringe that solidifies into a durable embolus upon administration without polymerization or precipitation of dimethyl sulfoxide (DMSO). GPX is designed to obstruct blood vessels regardless of the patient’s clotting situation. Unlike competing technologies that require special materials and preparation time, the GPX device is packaged ready to use in a syringe, requires less than 30 seconds of table preparation by the clinician, and can be delivered through standard catheters or small microcatheters (no mixing systems or special delivery catheters are needed). *
“The GPX team has secured significant seed funding, including the first use of the device by a patient. We are very pleased with the overwhelming investor support for our Series A raise, ”said Libble Ginster, CEO of Fluidx Medical Technology. “Our company’s mission is to improve patient care through innovation, and we look forward to bringing GPX technology to the clinical community. ”
Fluidx Medical Technology is a Salt Lake City, Utah company based on the development of the GPX embolic device and other innovative medical technologies. The GPX embolic device is under development and does not have market authorization or market approval at this time. For experimental use (in New Zealand) alone.
* Fluidx Medical Technology data on file.
SOURCE Fluidx Medical Technology