Prytime Medical has announced the closing of a US$6 million inside financing round to support commercialisation of its resuscitative endovascular balloon occlusion of the aorta (REBOA) haemorrhage control products.
“REBOA is different now,” said Andrew Holman, chief commercialisation officer at Prytime. “Our new Plus and Pro catheters include many new technical advancements that are enabling a surge in REBOA adoption. As a result, demand is growing strongly. Based on the strength of our core business, our new product launches, and our new focus on relentless customer support and quality clinical outcomes, the investor community responded overwhelmingly.”
The oversubscribed funding round will also support a key shift in the company’s commercial focus away from simply product familiarisation towards deep customer support and quality clinical outcomes.
“Our growth is based on experience from over four years of market engagement, and 7,500 clinical uses worldwide. We see two key characteristics of successful REBOA programmes,” said David Spencer, Prytime CEO. “The first is the practice of ‘Team REBOA’, and the second is the implementation of a rigorous ‘Early Access protocol.’ This funding will enable us to support our customers not just with our extensive REBOA-knowledge base, but also by sharing the experience of other REBOA users. This new focus will support strong clinical outcomes more effectively and enable enhanced peer-to-peer knowledge sharing. It is strongly resonating with the user community.”
Prytime’s latest product innovations and new approach to clinical support were designed in direct response to customer feedback. “Our customers want simultaneous truncal haemorrhage control and more controlled resuscitation in a much wider range of clinical scenarios than was previously possible,” continued Spencer. “As a key example, pREBOA-Pro is the first US Food and Drug Administration (FDA)-cleared REBOA catheter designed specifically for true partial REBOA, not just intermittent REBOA like other devices. We are proud to continue to innovate to meet our customer needs.”