Tuesday, October 20, 2020

Diality Closes $12.5 Million of Series B Financing to Support Ongoing Development of a Portable System for Acute and Chronic Hemodialysis

IRVINE, Calif., Oct. 20, 2020 /PRNewswire/ -- Diality Inc (diality.com), a medical device company that is developing a versatile hemodialysis system to address the unmet technology needs of the evolving dialysis industry, announced the close of a $12.5 million Series B investment round.


"Driven by rising costs and poor outcomes associated with in-center dialysis, as well as the COVID-19 impact on the industry, dialysis delivery is becoming decentralized. To accommodate cost-effective delivery outside of specialty dialysis facilities, hemodialysis machines need to be user friendly for non-specialty nurses, patients, and care partners," says Osman Khawar, M.D., Chief Executive Officer at Diality. "To meet the needs of prescribing physicians and their patients in acute, sub-acute and home settings, a portable machine also needs to be capable of delivering a wide range of dialysis doses. We see the lack of a machine with this level of versatility as a lingering market gap that we seek to fill by developing a truly portable system capable of delivering the intense dialysis doses commonly prescribed for patients receiving three dialysis treatments per week, in addition to lower-intensity doses suitable for more frequent dialysis."


With the design of the clinical-use system completed, the initial Series B round of funding will be used for all activities related to submitting to the US Food and Drug Administration for 510(k) clearance. "The timing of this round positions us to leverage growing interest in this relatively new category of hemodialysis product where we see opportunity for innovation that better addresses the distinct needs of dialysis providers across all segments of the market," added Khawar.


About Diality: Diality Inc is a privately held medical device company located in Irvine, California developing a versatile, portable hemodialysis machine. Committed to improving the quality of life of patients with kidney disease, Diality is focusing on reducing patient burden of care and burnout and improving patient quality of life, as well as giving physicians the flexibility to prescribe personalized dialysis treatments regardless of delivery setting.


Disclaimer: The performance characteristics of this product have not been established. This product is not yet available for use in the EU or US and is pending CE Mark and submission and clearance by the United States Food and Drug Administration. All performance claims listed are project goals only.


Related links and contacts:
https://www.diality.com
[email protected]


Direct financial questions to:
Craig Ross, CFO, Diality Inc
[email protected]


SOURCE Diality Inc



Related Links


https://www.diality.com


Source

No comments:

Post a Comment

Echo Health Ventures Introduces New Innovation Alliance Bringing Together Three National Health Care Leaders to Collectively Invest in Transforming Health Care

The EIA further validates Echo's unique model and will accelerate our work with leading entrepreneurs -Rob Coppedge, CEO Tweet this The ...