Strados Labs, Growing Medtech Company, Raises $4.5M in Pre-series A Funding Round
Funding to fuel next key milestones as company continues to target asthma, COPD and infectious respiratory diseases in 2022
Strados Labs, a medical technology company harnessing the power of smart sensors, machine learning and proprietary algorithms to provide early detection and predictions of worsening respiratory diseases, today announced its pre-series A round of funding at $4.5M. Investors in the round included SOSV, cultivate(MD), Wavemaker360 Health, Blu Venture Investors and Broad Street Angels.
The new funding comes on the heels of major commercial milestones including FDA Class II 510(k) clearance and CE Mark for its flagship product, RESP™, key contracts with major pharmaceutical partners for use in decentralized trials, the submission of four significant abstracts to the American Thoracic Society, and the appointment of Steve Bishop, former P&G Healthcare CEO, to the Strados Labs Board of Directors.
“This next round of funding will allow us to scale RESP, conduct decentralized clinical trials, and bolster our proprietary lung sound and breathing pattern database to create the standard for acoustic biomarkers going forward,” said Strados’ co-founder and CEO Nick Delmonico. “What’s really exciting is that we are supporting pharmaceutical companies in their trials by helping them rapidly scale their digital therapeutics using our clinically validated measures for wheeze, cough and other adventitious breath sounds, or CABS—which is something no other cleared device can measure.”
Using objective respiratory data to determine treatments and therapies is needed now more than ever with staff shortages and the rise in decentralized respiratory clinical trials. RESP provides real-time access to key changes in lung acoustics and respiratory patterns—going well beyond cough measurement to include wheezing, cough spasms, rails, rhonchi, and other adventitious lung sound and breathing patterns.
“In 2022, we will target additional respiratory diseases, work to secure additional clearances, and build deeper partnerships with pharmaceutical companies and health plans to use our RESP technology to power their digital therapeutics—ensuring patients with respiratory conditions have the best treatment plans and medications available to them—especially remotely,” continued Delmonico. “In a consumer health-driven market, and especially during a global pandemic, companies using RESP to bridge the remote care gap will have an advantage over others.”
Strados Labs will be attending CES January 5-8, 2022. Attendees of CES are encouraged to visit the Strados Labs at Booth 61126 in Venetian Expo Hall G.
About Strados Labs
Strados Labs is a medical technology company developing smart sensor platforms that utilize machine learning and proprietary algorithms to detect and predict compounding conditions associated with serious, chronic respiratory diseases to improve the lives of patients globally. The Company developed a first-of-its-kind smart sensor platform for respiratory health, RESP™. Strados was recently granted a CE Mark for RESP™ and received its FDA Class II 510(k) clearance for it last December. The Company is developing a robust pipeline of other smart sensor platforms to support and address other chronic diseases, as well as chronic disease management. Strados will continue to target asthma, COPD and infectious respiratory diseases (COVID, RSV, etc.) as it moves into 2022—with plans to add heart failure in late 2022. The Company is based in Philadelphia and is a privately held company. For more information, visit: stradoslabs.com
SOSV manages over $700 million with a portfolio of over 900 startups. SOSV created the world’s first life sciences accelerator in 2014, and in the past five years has backed 200 life science startups, raising more than $700 million, employing over 2,000 people, with a combined valuation of over $3 billion.
About Broad Street Angels
Broad Street Angels is an affinity club of The Union League of Philadelphia. It consists of about 100 Union League members who actively invest in qualified, early-stage enterprises in the Greater Philadelphia and mid-Atlantic region as a means of growing the economy, retaining, and attracting talent and fostering innovations that strengthen our civic infrastructure. Broad Street Angels, the Union League’s angel investing Affinity Group, announced that its members have made an investment in DreamVu, Inc. The group is a member of the Angel Capital Association, PACT, PA Angel Network, and Mid-Atlantic Diamond Ventures.
About cultivate(MD) Capital Funds
As a medical device venture capital fund, cultivate(MD) is dedicated to bringing emerging health care innovations to market, with a special focus on medical device and orthopedic technologies. cultivate(MD) is focused on investing in early-stage healthcare companies with innovative technologies that have demonstrated evidence of effectiveness.
About Wavemaker360 Health
Wavemaker Three-Sixty Health is the leading U.S. early-stage (Seed and following on at the Series A) venture capital fund focused 100% on healthcare. Launched in 2018, Wavemaker 360 invests into the most promising healthcare startups in North America, with LPs from every sector of the US healthcare system. We are SEEDING HEALTHCARE’S TOMORROW. We invest in healthcare disruptors and entrepreneurs that see how the industry is transforming itself and want to make a big difference.
About Blu Venture Investors
Founded in 2010, Blu Ventures has deployed $85MM in capital to date in early-stage cyber and enterprise software firms. Currently, the firm is invested in 35 cyber companies to include ID.me, Cybrary, Huntress Labs, Ostendio and Threat Quotient. As a primary source venture capital firm, Blu’s principals bring expertise across a variety of industries and an investment perspective closely aligned with entrepreneurs. For more information, visit https://bluventureinvestors.com.
Inspire Agency (Formerly B Squared) on behalf of Strados Labs