Potrero Medical Commences NIH-backed PRESCIENT Study of Accuryn™ For Early Detection of Critical Illness

SAN FRANCISCO, Feb. 2, 2016 /PRNewswire/ — Potrero Medical, Inc. today announced the start of the PRESCIENT study, an NIH-sponsored, multi-center observational study using the Accuryn™ Monitoring System to detect the physiological signatures of critical illnesses, including sepsis.

Professor Raul Coimbra, MD, the lead investigator for the study and Chief of the Division of Trauma Surgery at the University of California San Diego, Hillcrest, stated, “We are excited to have enrolled our first patient in the PRESCIENT study which will contribute significantly to the understanding of the physiologic signatures of a variety of critical illnesses in the ICU.  This understanding may ultimately lead to earlier detection, and possibly even prediction, of these highly morbid and costly illnesses.”

“This study is intended to test the Accuryn system as a potential new tool for patient monitoring and treatment in the ICU.  The device has the potential to provide an early indication of sepsis and, perhaps more importantly, future studies of the additional capabilities of this device could lead to actionable data in guiding resuscitation,” said Phillip Dellinger, MD, Chief of Medicine at Cooper University Health Care in Camden, NJ and Clinical Advisor to Potrero Medical.

Daniel Burnett, MD, Founder and CEO of Potrero Medical stated, “Initiation of this study is another important milestone for us and another step on the path to creating what we believe will be a new gold standard diagnostic platform for the detection and treatment of critical illness.  We are thrilled to have the support of Dr. Coimbra, Dr. Dellinger and other leaders in critical care who share our vision for Accuryn™ as a potentially life-saving and cost-saving solution.”

Potrero Medical was awarded $2.25M in SBIR grants from the NIH’s National Institute of General Medical Sciences to run the multi-center PRESCIENT study which is projected to enroll up to 100 patients in the United States.

About the Accuryn™ System:

Accuryn™ is a critical care monitoring system that transforms the traditional urinary catheter into a next-generation diagnostic tool.  Accuryn uses proprietary electromechanical designs and advanced software algorithms to deliver automated, real-time actionable data including urine output, core temperature and intraabdominal pressure.

Potrero Medical Inc. previously demonstrated superiority of Accuryn™ in a multi-center randomized clinical study of Accuryn™ against the current gold standard device.  The Accuryn™ System is currently an investigational medical device and is not for sale in the United States.

About Potrero Medical, Inc.:

Potrero Medical, Inc., the latest spinout of medical device incubator Theranova, LLC, is headquartered in San Francisco, CA and was founded with a mission is to improve outcomes, reduce costs and expand access to healthcare. For more information about the company, please visit www.potreromed.com.

Dr. Phillip Dellinger to Advise Potrero Sepsis Study

Dr. Phillip Dellinger, an internationally recognized Sepsis expert at Cooper University Medical Center in Camden, NJ will act as clinical adviser for a 100 patient, multi-center observational study to detect Sepsis diagnostic parameters in humans using the Accuryn system.  Among his numerous contributions to the field of Sepsis and critical care medicine, Dr. Dellinger is the coordinating author of the Surviving Sepsis guidelines, the international standard for treatment of Sepsis.

R. Phillip Dellinger, MD

Surviving Sepsis

Potrero Medical Merges With Consano

Potrero Medical, Inc. and Consano Medical Inc. have agreed to merge to create a comprehensive critical care monitoring solution incorporating Potrero’s airlock-prevention technology to deliver continuous real time urine output monitoring to patients using Consano’s sensing catheter technology.  The combined company will retain the Potrero Medical name and will focus on bringing the combined technology platform, the Accuyrn™ system to market in 2016.

Consano medical raises 3.9 MM in oversubscribed series A financing

Deal Labs Closes Oversubscribed Series A for Consano Medical; Raising Capital for Nueon Inc.

New financing platform raises capital for medical device companies and partnerships

SAN FRANCISCO–(BUSINESS WIRE)–Deal Labs, Inc., an online financing platform with targeted capital-raising solicitation technology, announced the closing of a $3.9 million Series A round for Consano Medical. In addition, Deal Labs announced today that Nueon Inc. has selected it to assist in raising capital.

Using a sophisticated stack of marketing automation, CRM and database technologies, Deal Labs identifies investors who are well suited for particular investments based on their industry expertise, professional experience, interests, prior investments, geographic location and other pertinent factors. Deal Labs then markets to these targeted investors, who can make an informed decision about the investment and have a significant understanding of the opportunity and risks associated with the investment. The benefit to the issuers is an efficient and direct method of raising capital from individual and institutional investors.

For Consano Medical, a medical device company spun out of the medical device incubator TheraNova and focused on the development of an intelligent monitoring device for detecting and managing sepsis in patients in intensive care units, Deal Labs’ innovative approach delivered investors who are ideally suited to the mission of the early-stage company.

“Deal Labs was critical to the success of our oversubscribed Series A,” stated Dan Burnett, M.D., CEO of Consano Medical. “Not only was this the fastest fundraise of my career, Deal Labs identified true value-added investors, many of whom we expect to be early adopters of our technology. They are very selective, but if you are raising capital for a high quality deal, then I would certainly recommend working with Deal Labs.”

“The successful closure of Series A funding for Consano Medical demonstrates that Deal Labs has created an alternative method of raising capital,” said Craig Harding, Deal Labs CEO. “The Deal Labs process worked beautifully. A group of clinical physicians, hospital administrators, and medical device development consultants organized by Ehrenberg Chesler Capital Partners San Antonio led the round, and well understood the IP owned by Consano, the preclinical data, and the medical need for new products to detect and treat sepsis.”

Nueon Inc. is currently raising capital through Deal Labs and Gordian Investments, LLC, which is Deal Labs’ affiliated broker-dealer. Nueon has developed the optical technology to measure red blood cell membrane chemistry and provide feedback about the three to four month history of blood pressure control and the resulting harmful effects of hypertension. Nueon’s technology helps provide actionable data to the physician at the point of care. Bob Messerschmidt, Founder and CEO of Nueon Inc., said “Deal Labs is not just building awareness of Nueon as an investment, but also the Nueon device as a radically improved method for detecting, managing and treating high blood pressure. Deal Labs can provide information about Nueon to medical specialists who understand the underlying science and the clinical need for the Nueon product, and who can make an informed decision about investing in Nueon.”

About Deal Labs

Deal Labs raises capital for private companies, public companies, and pooled investment funds and partnerships including real estate. Deal Labs selectively targets the type of retail and institutional investors who are believed to be best suited for a particular investment, thereby substantially improving and expediting the capital raising process. Rather than simply post information about offerings, Deal Labs uses a stack of technology to actively seek out and develop potential investors for selected companies and investment funds. For more information please visit www.deallabs.com

Please note that client testimonials may not be representative of the experience of other clients or their investors, and are no guarantee of future performance or success of an offering or an investment.

Securities offered through Gordian Investments, LLC. Member: FINRA, SIPC.