Medical Ingenuities, a Wheaton, IL,-based developer of a novel radial artery occlusion device, PH BandTM, that achieves and confirms patent hemostasis, received an investment from Genesis Innovation Group’s cultivate(MD) Capital Fund II, a fund focused on investments in early stage healthcare companies with innovative technologies.
The amount of the deal was not disclosed.
Led by Chip Corrigan, CEO, Medical Ingenuities is advancing PH Band, which provides real time feedback to medical personnel monitoring radial artery patency to prevent radial artery occlusion.
The device aids in reducing nurse workload and occlusion-related complications.
The funds will allow Medical Ingenuities to continue the regulatory process, required validation and testing to file its FDA submission in early 2019.