Funding to accelerate global clinical research and market development for the NoL™ pain monitoring technology
Ramat Gan, May 23, 2016 – Medasense Biometrics Ltd., a medical device company developing a non-invasive, objective pain monitoring technology, today announced the completion of Series B financing with new investor Baxter Ventures. This is in addition to the recent investment led by Benslie International Ltd. together with a leading undisclosed global medical technology corporation and other private investors.
The investment round will support the continuation of global clinical research and market development of Medasense’s flagship product PMD-200™. The PMD-200 is an objective pain monitoring system for non-communicating patients in operating rooms and critical care, aiming to support clinicians in evaluating their patient’s pain level in order to optimize pain treatment. Considering the complex nature of pain, Medasense developed the Nociception Level Index, the NoL™, based on a unique multi-parametric approach using artificial intelligence algorithms to determine a patient’s individual “Signature of Pain”.
“We are delighted with Baxter Ventures joining this round. This financing strengthens our commitment to improve patients’ care by supporting clinicians in personalizing and optimizing pain treatment,” said Galit Zuckerman, Medasense CEO and founder.
Pain affects quality of life for millions of patients. Unmanaged pain delays recovery, increases morbidity and mortality, and overburdens healthcare resources, with direct annual healthcare costs exceeding $600 billion worldwide. Despite the prevalence of pain, there are currently no clinically accepted tools to objectively assess pain.
“Medasense’s novel approach to developing an objective assessment of pain and a highly capable management team made this an attractive investment for Baxter Ventures. The opportunity to more proactively manage use of analgesics and maintain stable hemodynamic parameters provides direct benefits in helping to improve recovery time and clinical outcomes,” stated Anne Sissel, managing director of Baxter Ventures.
About Medasense Biometrics
Medasense Biometrics Ltd. is a medical device company that has developed an innovative, platform technology that can objectively assess and monitor changes in a patient’s pain level by processing multiple physiological parameters affected by pain and by analgesic administration. Better assessment of pain may optimize pain management, improve patient outcomes, and reduce adverse events and associated costs. For more information, please visit www.medasense.com.
About Baxter Ventures
Baxter Ventures identifies companies with promising technologies, products, and/or therapies, and provides them with the capital and expertise needed to drive successful innovation. Baxter Ventures was created in 2011 by Baxter International Inc., which has an 85-year legacy of supporting healthcare innovation and saving and sustaining lives worldwide. Baxter Ventures invests in companies with innovative technologies, products, and therapies that have the ability to improve patient care globally and maximize value for investors and entrepreneurs. The company’s focus includes therapeutic areas complementary to those of its medical products business, as well as cutting-edge technologies and therapies outside of its current product portfolio that have sustainable long-term growth potential. For more information, please visit www.baxter.com/baxterventures.