January 29, 2018

Flosonics Medical secures $5 million in seed round funding

The funds will be used to develop and commercialize FloPatch, a wearable wireless Doppler ultrasound sensor that enables rapid, repeatable, and trusted hemodynamic assessments

Flosonics Medical, a Canadian medical device company headquartered in Northern Ontario, has secured $5 million in a seed funding round led by Toronto’s iGan Partners.

The funds will be used to develop and commercialize FloPatch, a wearable, wireless Doppler ultrasound sensor that enables rapid, repeatable, and trusted hemodynamic assessments throughout the continuum of care.

“Our company is developing a non-invasive means of monitoring critically ill patients during the early stages of shock inside and outside the hospital. We’re very enthusiastic about the investors who partnered with us in the financing round. It marks a critical step in the commercial development of our proprietary FloPatch technology,” said Joe Eibl, co-founder and CEO of Flosonics Medical.

FloPatch is a low-cost, easy-to-use alternative to traditional means of assessing blood flow in critically ill patients using invasive catheters or cumbersome bedside ultrasound machines. The device adheres to a patient’s neck and wirelessly delivers data to a medical practitioner’s tablet via Bluetooth.

“Until now, there have been no tools that give clinicians physiological feedback on the effectiveness of their resuscitation, especially in the early stages of care,” said Dr. Jon-Emile Kenny, Chief Medical Officer of Flosonics Medical.

“We believe FloPatch has the potential to provide a fast and effective way of monitoring critically ill patients in the ambulance, emergency room, and intensive care unit.”

iGan Partners, a venture capital firm investing in early-stage medtech companies, led the funding round in partnership with Genesys Capital, Accel-Rx Health Sciences Accelerator, MaRS Investment Accelerator Fund (IAF), MaRS Catalyst Fund, Angel One, and Northern Ontario Angels.

“We’re very excited about what Flosonics Medical is doing, and with such a strong value proposition, we believe their technology will define a new standard of care in the ICU,” said Sam Ifergan, founder and CEO of iGan Partners.

“They’ve got some great ultrasound pioneers in the company, and their clinical advisors are world leaders in critical care physiology.”

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April 1, 2022 Flosonics Medical receives over $1.5 million through the province’s Ontario Together Fund
March 3, 2022 Flosonics Medical graduates from Fogarty Innovation’s prestigious Company Accelerator Program