Israeli pain monitoring startup Medasense Biometrics Ltd. has closed an $8 million Series B financing round. The financing was led by Benslie International Ltd. and joined by existing investors and a strategic investor - a leading global medical technology corporation.
Based in Ramat Gan, 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. Founded in 2008, the company has raised $13 million to date and has 15 employees.
Medasense CEO and founder Galit Zuckerman said, “Despite the prevalence of pain, there are currently no clinically accepted tools to objectively assess pain. Objective and accurate pain assessment can support clinicians to optimize and personalize pain management, helping improve patient outcomes at hospitals, clinics, and at home.”
Medasense will use the new funding to accelerate commercialization of its flagship product PMD-200™: An objective pain monitoring system for operating rooms and critical care, where patients under general anesthesia are unable to communicate their pain. The system consists of a non-invasive finger probe that records multiple pain-related physiological signals, and the PMD-200™ monitor, which uses a composite algorithm to determine an individual’s real-time, pain level index NoL™.
Considering the complex nature of pain, Medasense technology uses a unique multi-parametric approach and advanced statistical modeling to convert complicated data into a patient's “Signature of Pain." The validation of the technology was achieved in the ultimate setting of patients undergoing surgery in world-class renowned hospitals in Europe, Israel, the US and Canada. Key results from the clinical studies, published and cited in leading peer-reviewed medical journals, indicate the NoL™ index outperforms currently used parameters and methods.
Published by Globes [online], Israel business news - www.globes-online.com - on March 1, 2016
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