April 02, 2014-- ExoStat Medical, Inc., a Minnesota based medical device research and development company recently received $1.0 million of equity financing. This scheduled funding completes a $5.5 million commitment which the company received last year. The company believes that this final payment will fund ExoStat through its 510(k) FDA submission in 2015. “All proceeds are earmarked for product development and related expenses”, said President/CEO, Jim Hays.
The Prior Lake, MN firm has focused on the development of a sensor and monitoring system that provides an early indication of tissue hypoperfusion. The MicroStat system measures oral mucosal tissue PCO2 that correlates with gastric PCO2. When tissue hypoperfusion compromises intestinal mucosa, ischemia and gastric hypercapnia follow. These two clinical states can spur release of bacteria and inflammatory substances into the splanchnic circulation, leading to sepsis and the onset of septicemia, one of the leading killers of acutely ill patients in emergency rooms and intensive care units in the western world.
Sepsis and sepsis related therapy have received worldwide attention lately. A recently completed four year, 31 hospital, randomized study called Protocolized Care for Early Septic Shock (ProCESS) conducted by the National Institute of General Medical Sciences and the University of Pittsburg Medical Department. “It is clear that emergency and critical care providers have made the decision to address this highly complex and misunderstood malady. Through tissue perfusion assessment, the MicroStat system will play a big role in the process of early detection and the ongoing monitoring of therapy during resuscitation”, stated Hays. ExoStat Medical has a large portfolio of intellectual property centered on the sensoring system. ExoStat Medical has assembled a world-class team including experts in sensor technology, industrial design, electrical and software design. Additionally, ExoStat has established “non-compensation” relationships with several renowned research and practicing emergency and critical care physicians.
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