September 22, 2020
Pedra Technology Secures Funding for Perfusion Monitoring Technology
September 22, 2020—Pedra Technology, a Singapore-based developer of deep tissue perfusion monitors, announced the completion of $4.7 million Series A financing.
The funding will support the development of a first-generation system to noninvasively assess perfusion and a clinical program to establish perfusion monitoring as a new standard of care in the treatment of peripheral arterial disease (PAD) and critical limb ischemia.
According to the company, the technology will improve the detection of compromised tissue perfusion in diabetic feet, allowing for better triage toward appropriate treatment pathways. The product is not yet available for sale in the United States, advised the company.
Investors in the Series A financing include SEEDS Capital (the investment arm of the government’s Enterprise Singapore agency), M&L Healthcare Investments, and two strategic manufacturers of peripheral vascular devices, stated Pedra Technology. Kareen Looi, Chief Executive Officer of Pedra Technology, commented in the company’s announcement, “Our strategic investors understand the complexities and unmet needs that Pedra Technology seeks to address in putting an easy-to-use method for assessing foot tissue perfusion into the hands of physicians. In working with them, we are poised for rapid growth with partners who have deep experience in launching new technology that improves patient outcomes.”
Vascular surgeon Steven Kum, MD, added, “Kareen and her team have a track record of success in innovating to need. A perfusion monitoring system is an essential tool in the diagnosis and treatment of PAD. I look forward to the buildup of clinical data to show how we can use this to enhance early detection of PAD, as well as how it will facilitate decision-making during and after revascularization procedures. This may ultimately help in the long-term goal of reducing the cost burden on our health care system.”