Gauss Surgical, Inc., maker of Triton, a platform for real-time monitoring of surgical blood loss using sponges and a digital platform, just announced the close of its $12.6 million in Series B financing. This brings its total funding to $24.6 million.
Providence Ventures, the investment arm of Providence Health & Services led the round, with participation from Jump Capital, a Chicago-based firm specializing in expansion stage and growth capital investments.
Siddarth Satish, Founder and CEO of Gauss, shared about the growth of the company and current goals.
What does the future look like moving forward beyond this new financing?
In full transparency, I’d say we are focused on full commercial growth. There is a big change taking place, specifically in areas such as maternal health. This is an area that is very focused on quantification of blood loss during deliveries and C-sections. We are going after the areas that have the largest clinical impact at the time.
Is the focus on pregnant women and this kind of product correlated because you know the chances are high for blood loss, as opposed to having this for emergency situations?
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
No, it’s actually more so that the risk of blood loss is higher. You know blood loss will happen in any procedure, but in the situations where a mom bleeds at a higher rate than normal, it’s difficult to tell if that’s happening visually. You sometimes can’t tell until it’s too late. Their vital signs will change because the body is compensating before the bleeding. Blood loss happens, but this is all about early recognition. Early recognition really begins in the operating room.
Could it be that blood loss isn’t documented accurately when it comes to hemorrhaging?
No I think blood loss documentation is accurate. But I think the way you define hemorrhage, blood loss, it’s currently kind of a guess. It’s visually estimated.
So what you are doing is making a very acute understanding possible?
Exactly. It’s accurate, it’s precise and it’s real time based on our system. It’s all about early recognition, improving awareness, communication, and ultimately improving patient care.
What can you share about other medical device development in your current pipeline?
We can’t share anything publicly. But we are looking currently at the broader application of our currently platform and the ability to leverage the global, cloud-platform type of device that can deliver vital information involving a patients care.
Photo: Screenshot via Gauss Surgical
