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Neopenda, a Chicago-based public benefit corporation, is now raising funds in an equity crowdfunding campaign with Republic to enable expansion of clinical pilots into additional regions and to bring awareness to their work.
Founded by Columbia University alumni biomedical engineers Sona Shah and Teresa Cauvel, Neopenda is currently developing a medical device geared toward underserved markets in Sub-Saharan Africa. The device, a wireless wearable vital sign monitor, measures pulse rate, respiratory rate, peripheral blood oxygen saturation, and temperature of critically ill newborns being cared for in hospitals in low-resource areas. The device enables healthcare providers in overcrowded and understaffed hospital wards to provide more timely and effective care to at-risk newborns.
“At Neopenda, we are laser-focused on involving our users and stakeholders in emerging markets in the design of our product and our business strategy. By raising funds on Republic, we have the opportunity to closely involve supporters at home in Neopenda’s growth as well,” said CEO Sona Shah.
“Republic is pleased to host this open investment opportunity in Neopenda and provide Neopenda with an alternative way of raising capital for their work,” said Kendrick Nguyen, CEO of Republic.
Republic, founded in early 2016, is a fast-growing investment platform where accredited and non-accredited individuals can invest in innovative startups curated by a team of experienced industry alumni.
In what started as a classroom project, in the last three years, the Neopenda team has worked tirelessly to develop and bring to market needs-based, context appropriate medical devices in emerging markets. In the last few months, Neopenda has added team members in Uganda, begun the CE Marking process and been invited to the Techstars Chicago Class of 2018.
Neopenda is innovating needs-based medical technology for the massive untapped opportunity in emerging markets. Neopenda creates end-to-end solutions that enable high quality patient care and nuanced data insights for stakeholders. The first product is wireless wearable neonatal vital signs monitor designed for resource-constrained health facilities. The affordable system enables more responsive and appropriate care for critically ill newborns, and ultimately helps reduce preventable newborn mortality.
For Further Information
More on the patient monitoring equipment market in the US can be found in a series of reports published by iData entitled the US Market Report Suite for Patient Monitoring Equipment. This report covers the following market segments: multi-parameter vital sign monitoring, wireless ambulatory telemetry monitoring, cardiac output monitoring, electromyogram monitoring (EMG), electroencephalogram monitoring (EEG), fetal and neonatal monitoring, cerebral oximetry monitoring, intracranial pressure monitoring (ICP), blood pressure monitoring, telehealth and pulse oximetry monitoring.
The iData series on the market for patient monitoring equipment covers the U.S. and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about patient monitoring equipment market data or procedure data, register online or email us at [email protected] for a US Market Report Suite for Patient Monitoring Equipment brochure and synopsis.