OBMedical, a Jonesville startup developing a maternal-fetal monitoring sensor system, has closed a $2.1M angel investment round led by New World Angels with participation from the Angel Investment Management Group, Atlanta Technology Angels, the Upstate Carolina Angel Network, and the Palmetto Angel 2014 Fund. The offering was oversubscribed. The Company will use the proceeds to complete safety, mechanical, and EMC testing, summative usability testing, and industrial design, supporting a filing for 510(k) clearance for LaborView – its advanced, wireless, external, electronic maternal-fetal monitoring sensor system. Weaver Gaines, OBMedical CEO, stated “The clinical performance trials, conducted at the University of Florida Health/Shands Hospital and the Winnie Palmer Hospital for Women and Babies in Orlando, were completed with highly satisfactory results. The 510(k) submission is scheduled in the third quarter of 2014.” Scott Dresden, MD, FACOG, a member of NWA, has joined the corporate board of OBMedical. Dr. Dresden commented, “LaborView, with its numerous and significant improvements over existing devices, brings maternal-fetal monitoring into the 21st Century. This represents a major leap forward in the care of laboring patients, which physicians and nurses alike should immediately appreciate. LaborView promises to become the new standard of care for laboring mothers and their babies.” Dr. Dresden, a board-certified OB/GYN, supervised over 7,000 births during his career. James Stubbs, Ph.D., a member of ATA and Principal Scientist and CEO of Radiation Dosimetry Systems and an experienced early-stage medical device entrepreneur, will also join the OBMedical board in place of David M. Margulies, MD, who will resign to make room for Dr. Stubbs. Read more here.
