Admittance Technologies has received $3.9 million in funding, according to a filing with federal regulators.
The Austin-based startup raised the money from 15 unidentified investors on June 26th, according to its filing with the U.S. Securities and Exchange Commission.
The startup, founded in 2010, created the CardioVol technology platform to measure blood volume using a pacemaker to detect disease and treat patients with the devices. Dr. Marc Feldman, its founder, serves as professor in biomedical engineering at UT Austin and UTSA. He has previously founded two other companies, Setagon and CardioSpectra, both ventures were acquired.
Wes Johnson, a seasoned healthcare executive, serves as its chief executive officer.
In 2013, the company received nearly $2 million in investment from the state’s Emerging Technology Fund.
Silicon Hills News
AUSTIN, TX – January 22, 2013 – Admittance Technologies announces today that it has joined the Jon Brumley Texas Venture Labs as an accelerator company for the Spring 2013 semester. The press release from TVL is posted here. MBA students at Texas Venture Labs will be working with Admittance to hash out marketing research for a new platform technology involving tissue viability that will be valuable in markets such as kidney tumor surgery, organ transplant, and ablation surgery for arrhythmias.
SAN ANTONIO, TX – January 18, 2013 – Admittance Technologies announced Friday that they received an Emerging Technologies Fund award for $1.99M for the commercialization of their lead product platform, CardioVol™. Admittance was featured in the San Antonio Business Journal, and the full text can be read here for non-subscribers.
BOSTON, MA – May 25, 2012 – Admittance Technologies announces today that it received an Innovation Award at the 33rd annual Scientific Sessions of the Heart Rhythm Society on May 10th. The Heart Rhythm Society showcases “the latest science, discovery and innovation that are essential to quality care for patients” and is the premiere conference targeting cardiac arrhythmia experts.
Dr. Marc Feldman, CEO of Admittance Technologies, presented an abstract entitled “Monitoring LV Stroke Volume During Simulated Ventricular Tachycardia from Bi-V Pacing Leads,” in poster session. Implanted Defibrillators (ICDs) monitor heart rhythms in patients and respond to cardiac arrhythmias with the delivery of a life-saving shock. However, inappropriate shocks are delivered to one third of patients within the first 1-3 years. The presented abstract addresses this problem with Admittance Technology’s flagship product, CardioVol™.
CardioVol™ is a combined software/firmware solution that allows real-time blood volume measurement using existing pacemaker leads, and enclosures. Feldman notes “The strength of this technology, is that no additional surgery is required, allowing implantation to be transparent to both doctor and patient.”
Admittance Technologies had meetings with all four of the major pacemaker companies including St. Jude Medical, Medtronic, Biotronik, and Boston Scientific while at the Scientific Sessions.