DURHAM, N.C., Oct. 22, 2019 /PRNewswire/ -- 410 Medical, Inc., a medical device company developing innovative technologies for critical care, announced today it has closed on a Series A financing of $8 million led by Hatteras Venture Partners, with participation from OSF Healthcare and existing investors including Sovereign's Capital. 410's lead product, LifeFlow®, is designed to enable clinicians to more effectively and efficiently deliver fluids to critically ill patients.
"LifeFlow has been designed to deliver fluids up to 10 times faster than traditional methods, which can be particularly impactful for patients suffering from sepsis, shock and trauma, who are at higher risk of organ failure and death," said Kyle Chenet, Chief Executive Officer at 410 Medical. "This new funding will be instrumental in expanding commercialization of LifeFlow in hospital and pre-hospital environments nationwide, ensuring that more patients receive time-sensitive fluid resuscitation."
Severe sepsis affects over 1 million adults and children each year in the US. It is the most frequent cause of death in hospitalized patients and the leading killer of children worldwide. Early, rapid delivery of fluid is a life-saving therapy, yet with existing methods providers often fail to achieve published fluid delivery guidelines. Since FDA clearance in 2016, LifeFlow has seen increasing adoption at leading healthcare systems throughout the U.S., including Cincinnati Children's Hospital Medical Center, Children's Hospital Colorado, and WakeMed Health & Hospitals.
"We are thrilled to support the vision of 410 Medical's founders, to ensure LifeFlow can be in the hands of any clinician needing to provide rapid fluids for a critically ill patient," said Jeff Terrell, Partner at Hatteras. Mr. Terrell will be joining the 410 Medical Board of Directors along with Stan Lynall, Vice President of Venture Investments at OSF Ventures. OSF Ventures is the venture capital arm of OSF HealthCare, an Illinois-based health system with 124 locations and 13 hospitals.
About 410 Medical, Inc.
Founded in 2013, 410 Medical is a medical device company dedicated to developing innovative products that enable frontline medical providers to improve care for critically ill patients. 410 Medical's first product, LifeFlow, is designed to enhance the speed and efficiency of fluid resuscitation, improving care for patients with life-threatening illnesses such as sepsis and shock. LifeFlow was cleared by the FDA for human use in 2016. For more information, visit www.410medical.com.
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Durham, N.C., with a focus on seed and early stage opportunities across the health care continuum from transformative therapies to disruptive technologies. The firm has six funds and over $550 million in capital commitments under management. Hatteras is led by a seasoned team of entrepreneurs and operators and has a long and successful track record of seed and early stage investing and company formation. To learn more about Hatteras Venture Partners, please visit www.hatterasvp.com.
About OSF Ventures
OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.
SOURCE 410 Medical, Inc.
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