Ivenix grabs $50 million to build next generation infusion pump

CEO Stuart Randle said the startup will use its first round of funding to enhance its technology platform and work toward FDA clearance.
By Bernie Monegain
09:47 AM

Ivenix announced that it has closed a $50 million round of equity financing to further develop its next-generation infusion pump in pursuit of FDA clearance.

The Amesbury, Massachusetts-based startup’s CEO Stuart Randle said the current crop of infusion pumps are limited by high error rates and a general lack of innovation.

Ivenix technology addresses safety and performance gaps in existing pumps, while building in a secure IT platform, he said, the offering includes a lightweight pump, information system, and a proprietary administration set.

“Our system represents a complete redesign of the infusion pump from the ground up, with fully integrated technology to support interoperability and improved safety and performance,” Randle added in a statement.

Once Ivenix attains FDA clearance, more of the $50 million will become available, with which the company plans to quickly expand its team for a commercial launch.

The financing was led by two new undisclosed investors, and participation from existing investors F-Prime Capital Partners and WuXi Healthcare Ventures, among others.

Twitter: @Bernie_HITN
Email the writer: bernie.monegain@himssmedia.com

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