Pasadena Angels Invest in Novel Insulin Infusion Technology

Published : Friday, August 17, 2018 | 4:58 AM

Pasadena Angels, a venture capital firm specializing in seed, early stage, and emerging growth stage investments, has invested in a $2.9 million Series Seed funding raised by Capillary Biomedical Inc. (CapBio) in Irvine to fund a better way to help diabetes patients get the insulin they need.

The use of funds will include clinical studies on novel insulin infusion technology to support an initial 510(k) filing and preparation for market launch in 2019.

CapBio has developed the SteadiSet infusion set with SteadiFlow technology, a patented design that addresses several key failure points with current infusion sets that dramatically affect the health, quality of life, and cost for the 1.2 million worldwide insulin pump users. Research results specific to CapBio’s SteadiFlow technology were announced at this year’s Scientific Sessions of the American Diabetes Association in Orlando.

“Our SteadiFlow infusion set technology is designed to reduce set failures, improve comfort and simplify insertion,” CapBio CEO Paul Strasma said. “It is a best of both worlds design, with a kink-proof cannula that is more reliable than Teflon cannulas and gentler to the tissue than steel needles.”

Mark Estes, CapBio VP of Sales and Marketing, said the company intends to partner with leading pump companies to distribute the technology.

“We believe that SteadiFlow technology will help pump users and those who help care for them by reducing the stress and burden of pump therapy,” Estes said.

CapBio Co-founder Professor Jeffrey Joseph of the Sidney Kimmel Medical College at Thomas Jefferson University said the novel approach will address the root causes of insulin absorption variability and infusion set failure, which will improve the predictability of insulin pump therapy.

Joseph developed the core cannula technology at the Jefferson Artificial Pancreas Center of Thomas Jefferson University with grant funding from the National Institutes of Health and JDRF, the leading global organization funding Type 1 diabetes research.

Aside from Pasadena Angels, other Angel groups that took part in the Series Seed financing included the Tech Coast Angels, New York Angels, HBS Alumni Angels of New York, and the Mass Medical Angels, making the financing one of the broadest and most successful syndications among Angel investor groups.

Founded in 2000, Pasadena Angels is a group of leading private investors that provide long-term human and financial capital to help build successful companies. Its 100-plus members have many years of collective leadership experience and provide the resources to ensure the success of the group’s portfolio companies.

To learn more about Pasadena Angels, visit www.pasadenaangels.com.

 

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