SEA Medical Systems, a healthtech company focused on safety and management of IV medicine, has closed a USD3 million Series B investment with Chicago-based venture capital firm JK&B Capital, which specialises in investments in Information Technologies, healthcare and communication markets.
As part of the agreement, Chairman of JK&B Capital David Kronfeld, and Quantum Technology Partners’ Barry Dickman joined SEA Medical’s board of directors. Proceeds from this investment will allow SEA Medical to accelerate development of its IV products and expand its technology into additional medical applications.
"Thousands of people are killed or seriously injured in US hospitals each year when they receive the wrong IV medicine or wrong dosage. SEA Medical is doing something that has never been done before: instantly identifying the actual contents of any IV," says Michael Weickert, CEO and co-founder of SEA Medical. "We are delighted to have the support of JK&B Capital who understand the power and potential of our technology solution to address patient safety issues and revolutionise medical care."
"SEA Medical Systems has demonstrated the potential for a novel and dramatic advance in IV medicine," says David Kronfeld, Chairman of JK&B Capital. "The company is well positioned to provide disruptive products that improve safety and cost effectiveness of medical care in the coming years."
"Drug errors are a very serious problem in medicine and it is exciting to finally see a technology that can address some that could not previously be prevented in a new and decisive way," says David Bates, MD. Dr Bates is a leading authority on adverse drug events, the mistakes with medicines that injure or kill patients, and is also a member of the SEA Medical board of directors.
