MedCity News has partnered with BioCrossroads to provide coverage focused on Indiana’s next generation of growth and innovation in life sciences
Indianapolis-based SonarMed continues to move forward with perfecting and providing its non-invasive, adjunctive device that provides real-time monitoring of endotracheal tube position and function, originally developed at Purdue University by SonarMed founders Dr. Jeffrey Mansfield, Dr. Eduardo Juan, and Dr. George Wodicka.
In April 2014, SonarMed finished off with $2.4 million in a round of funding, and the round that started in December (which is still open) is now up to $1.7 million. President and CEO Thomas Bumgardner said in an interview that he currently can’t discuss the progress of that funding and when it will close, but $2.5 million is the current goal for 2015.
3D Medical Animation Services: A Revolution in Healthcare Education and Marketing
3D medical animation services have emerged as a groundbreaking tool in the healthcare industry, revolutionizing the way medical concepts are taught, understood, and marketed.
As the company stands now, the priorities (beyond continued funding) are ramping up sales of the adult-focused product and pushing for a stronger neonatal presence with manufacturing clearance in the next couple of months, Bumgardner noted.
After finishing a 12-month commercial pilot with MD Anderson and receiving helpful feedback, development of the product for use with premature babies was streamlined, cutting off what could have been an additional two years of work. This puts SonarMed in a better position moving forward, keeping the user-friendly aspect of the product at the forefront.
Stanford University Medical Center will be the first establishment to use and evaluate the NICU version of the device starting in July or August of this year. After that, Bumgardner says acquisition will be the goal.