FIZE Medical Completes $5.3 Million Series A Financing
MIAMI, April 6, 2021 /PRNewswire/ -- FIZE Medical, Inc. ("FIZE")(www.fizemedical.com) recently closed a Series A financing led by Rapha Capital Management, LLC (https://www.raphacap.com), an investment management firm located in Miami, Florida, through Rapha Capital Investment IX, LLC ("RCI IX") (an entity managed by Rapha Capital). RCI IX was joined in the lead by MIG FZ LLC, led by Michael Ingber MD, Director of The Center for Specialized Women's Health at Garden State Urology, within the Atlantic Health System. This second, final tranche of financing completes FIZE's Series A financing, initiated with the first tranche closing in May, 2020 (see press release). The total $5.3 million financing will be used to further develop and commercialize FIZE's novel device, the iUO™, the first accurate, automatic, digital, and cost-effective device to measure urine output in real time, replacing the current, manually managed, urinometer bag attached to a standard Foley catheter, to be made available to hospitals and physicians worldwide. Rapha Capital's inaugural first managed VC Fund, Rapha Capital BioVentures Fund I also participated in this financing.
Rapha Capital Management is an investment management firm focused on managing strategic investments in early stage, non-public biotechnology companies, previously through special purpose investment vehicles ("SPIVs"). Rapha Capital was founded by its President, Kevin Slawin, M.D., a successful and experienced oncologic and robotic surgeon. After leaving practice, Dr. Slawin has been serving as a biotech consultant, investor, and founder, focusing on disruptive technologies in oncology, T cells and immunotherapy, and other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc. ("Bellicum"), a publicly traded company listed on NASDAQ, leading Bellicum to a successful $161 million IPO in December, 2014. He also plays a guiding role in several of the investments managed by Rapha Capital in certain companies, serving as a board member at 3DBio Therapeutics, Inc (https://3dbiocorp.com/), FIZE Medical, Inc. (www.fizemedical.com), and Demeetra AgBio, Inc. (www.demeetra.com). He served as a board member and interim CEO of portfolio company AsclepiX Therapeutics, Inc. (www.asclepix.com) in 2020, engineering their $35 million Series A financing led by Perceptive Xontogeny Venture Fund in mid 2020. Rapha Capital Management manages thirteen legacy SPIVs, Rapha Capital Investment I – XIII. Rapha Capital Management will be offering alternative asset management services to its inaugural venture capital fund, launching April 15th, 2021, which will be the vehicle for all future investments managed by Rapha Capital Management.
"FIZE's basic device, the iUO™, by itself is a giant leap forward in medicine, conquering the last frontier in patient monitoring by digitizing urine output, measured in real time, and placing it at the physicians' fingertips." said Kevin Slawin MD. "FIZE's vision, to be delivered through its pipeline of follow-on products, the iUO PLUS ™, and iUO DUOFLO ™, is poised to truly transform medicine by adding acute kidney injury (AKI) and shock prediction, core temperature and intraabdominal pressure monitoring (IAP), fluid balance and diuretic use and monitoring, real time urinalysis and UTI management, and automated intravesical chemotherapy and continuous bladder irrigation (CBI) therapy to the iUO™'s core capabilities," he added. "It's been gratifying to see how Urologists, including our lead investors Drs. Slawin and Ingber, who understand better than most the optimal management of Foley catheters, respond with such excitement and commitment to our company's technology and the advances it offers to their patients," said Dror Zerem, CEO of FIZE Medical.
The COVID 19 pandemic has led to a realization of the need to prioritize technologies that increase protection of healthcare workers, while improving the care of critically ill patients, and providing enhanced efficiency. The FIZE® iUO™ device addresses all of these goals by reducing the number of times a nurse/healthcare worker needs to enter the room of an infected patient by automating bladder management.
About FIZE Medical – "Making Every Drop Count" - FIZE® Medical is developing a state-of-the-art platform of assays to measure key indicators of the health status of patients found in their urine, in real-time, delivered through FIZE®'s groundbreaking devices, the iUO ™, iUO PLUS ™, and iUO DUOFLO ™. The basic FIZE® device, iUO™, measures real time urine production in a fully automated fashion and integrated into current healthcare IT platforms like the EMR. FIZE®'s advanced line of products provides a comprehensive solution by extracting all additional clinically relevant information from the urine and providing it to clinicians at their fingertips. The FIZE® technology is poised to advance significantly the delivery of healthcare without the added burden of increasing cost. FIZE Medical is headquartered in Modi'in, Israel. For more information, visit www.fizemedical.com or email email@example.com.
About Rapha Capital Management, LLC - Rapha Capital Management, LLC is an investment management firm located in Miami, Florida, focusing on identifying and managing strategic investments in early stage, non-public biotechnology companies. Rapha Capital was founded by its President, Kevin Slawin, MD, a successful and experienced oncologic and robotic surgeon, biotech consultant, investor, and founder focusing on technologies in oncology, T cells and immunotherapy, as well as other breakthrough healthcare technologies. He is the founder of Bellicum Pharmaceuticals, Inc., a publicly traded company listed on NASDAQ. He is co Inventor of the FDA,-approved "prostate health index (phi)" test licensed and marketed by Beckman Coulter and utilized around the world. He has published extensively in top medical and scientific journals including the Journal of the American Medical Association (JAMA), Journal of the National Cancer Institute (JNCI), and the New England Journal of Medicine (NEJM). He has also been routinely listed in America's Top Doctors for Cancer (Castle Connolly Medical) and The Best Doctors in America (Woodward/White). In 2003, he was awarded the F. Brantley Scott, Jr., Award for Innovation and Creativity in Urology.
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SOURCE Rapha Capital Management, LLC