Fize Medical, Inc., a Miami, FL-based medical device company, raised $3.3m and closed a $5.3m Series A financing.
The round was led by Rapha Capital Management, LLC, and MIG FZ LLC, with participation from Rapha Capital’s inaugural first managed VC Fund, Rapha Capital BioVentures Fund I.
The company intends to use the funds to further develop and commercialize its novel device, the iUO™, an automatic, digital, and cost-effective device to measure urine output in real time, replacing the current, manually managed, urinometer bag attached to a standard Foley catheter, to be made available to hospitals and physicians worldwide.
Led by Dror Zerem, CEO, FIZE Medical is developing a platform of assays to measure key indicators of the health status of patients found in their urine, in real-time, delivered through devices, the iUO ™, iUO PLUS ™, and iUO DUOFLO ™. The basic FIZE® device, iUO™, measures real time urine production in a fully automated fashion and integrated into current healthcare IT platforms like the EMR. The company’s line of products provides a comprehensive solution by extracting all additional clinically relevant information from the urine and providing it to clinicians at their fingertips.