Prytime Medical Closes Oversubscribed $6M Inside Funding Round to Fuel Commercialization Growth
The capital will be used to accelerate the commercialization of Prytime Medical's new line of minimally invasive REBOA (Resuscitative Endovascular Balloon Occlusion of the Aorta) hemorrhage control products.
SAN ANTONIO, June 2, 2021 /PRNewswire/ -- Prytime Medical Inc - The REBOA CompanyTM, is a leading innovator and global provider of life saving REBOA products for truncal hemorrhage control. Today, they announced the closing of a $6 million inside financing round to support commercialization of their innovative new products.
"REBOA is different now," said Andrew Holman, Chief Commercialization Officer at Prytime. "Our new PLUSTM and PROTM catheters include many new technical advancements that are enabling a surge in REBOA adoption. As a result, demand is growing strongly. Based on the strength of our core business, our new product launches, and our new focus on relentless customer support and quality clinical outcomes, the investor community responded overwhelmingly."
The oversubscribed funding round will also support a key shift in the company's commercial focus away from simply product familiarization towards deep customer support and quality clinical outcomes.
"Our growth is based on experience from over 4 years of market engagement, and 7500 clinical uses worldwide. We see two key characteristics of successful REBOA programs," said David Spencer, Prytime CEO. "The first is the practice of 'Team REBOA', and the second is the implementation of a rigorous 'Early Access protocol.' This funding will enable us to support our customers not just with our extensive REBOA-knowledge base, but also by sharing the experience of other REBOA users. This new focus will support strong clinical outcomes more effectively and enable enhanced peer-to-peer knowledge sharing. It is strongly resonating with the user community."
Prytime's latest product innovations and new approach to clinical support were designed in direct response to customer feedback. "Our customers want simultaneous truncal hemorrhage control and more controlled resuscitation in a much wider range of clinical scenarios than was previously possible," continued Spencer. "As a key example, pREBOA-PRO™ is the first FDA-cleared REBOA catheter designed specifically for true partial REBOA, not just intermittent REBOA like other devices. We are proud to continue to innovate to meet our customer needs."
About Prytime Medical Devices, Inc.
Prytime Medical™ Devices, Inc. is an innovative medical device company that designs, develops, and commercializes minimally invasive solutions for hemorrhage control. The underlying intellectual property for REBOA was conceived based on lessons learned in war. Our latest innovations, the industry leading ER-REBOA PLUS, and the innovative pREBOA-PRO™ partial REBOA Catheter, enable truncal hemorrhage control and simultaneously more controlled resuscitation in a much wider range of clinical scenarios. pREBOA-PRO™ is the first FDA-cleared REBOA catheter designed specifically for true partial REBOA. More information can be found at www.PrytimeMedical.com
Jeff Jung c) 210.544.1752
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SOURCE Prytime Medical