Fairway Medical leads Series B round that will be used to accelerate commercialization of Monebo’s unique heart monitoring and interpretation products.
Austin, TX, July 25, 2007: Monebo Technologies, a leader in the monitoring and interpretation of the electrical activity of the heart, today announced it has secured Series B financing. The undisclosed sum will be used to accelerate the commercialization of the CardioBelt™ Wireless ECG System, and the ECGAnalyzer™ Interpretation Algorithms.
The round was led by Fairway Medical Technologies, a portfolio company of BCM Technologies, the venture capital subsidiary of Baylor College of Medicine. As a result of this funding round, Leo Womack, Fairway’s Chairman, will join Monebo’s Board of Directors, and
lend his considerable expertise in developing and commercializing medical devices. This round follows a $500,000 grant from the Texas Emerging Technology Fund (ETF) that was received in October, 2006. Monebo will use the funding to expand its sales, R&D and marketing efforts, and further establish its position in the emerging homecare and ambulatory monitoring markets.
“We believe that a wireless solution to cardiac monitoring will become an integral way for physicians to monitor their patients,” said Leo Womack. The Monebo management team has deep industry knowledge and a successful track record in developing and commercializing
new technologies, and we bought into their mission of enabling more accurate heart monitoring and analysis. We look forward to working with Monebo management to bring more visionary products to this very promising market.”
Monebo CEO Dale Misczynski said, “The investment from the group led by Fairway validates Monebo’s vision and execution. Early acceptance of our technology has been very promising, with excitement from patients, physicians, pharmaceutical companies and home health care agencies. Based on our unique software algorithms and hardware design, we have the technology to provide very detailed information to the clinician, enabling the monitoring of heart patients from a remote location, and also the analysis and interpretation of ECGs from any device, including those used for pharmaceutical clinical trials. We are
pleased to have secured this B round, and look forward to utilizing it to accelerate our growth.”
Fairway Medical Technologies, Inc. is a private company based in Houston, TX and is a leader in the design, development and manufacturing of medical devices. Fairway is an FDA registered Medical Device Manufacturer and has over 15 years of experience in medical device commercialization on products ranging from simple surgical devices to critical life support systems. Fairway licenses technologies or offers its world-class product commercialization experience and expertise to clients on a contract basis. Fairway also
makes significant investments in promising new technologies as part of it’s business strategy.