India-based ABM Respiratory Care (ABMRC), a medical technology company involved in airway clearance and ventilation, announced the close of its Series B financing round, raising $14.8 million, $2.8 million above the company’s $12 million target.
Peter Soderberg, ABMRC’s chairman of the board and managing partner of Worthy Venture Resources, led the oversubscribed round, with participation from Blue Wave Capital, alongside new and existing investors.
WHAT IT DOES
BiWaze Clear, ABM Respiratory Care’s airway clearance system, helps people clear mucus and open airways.
According to the company, it delivers saline to help thin mucus, uses air pulses and vibrations to move mucus out of the lungs and provides steady, accurate pressure to help open airways. It also reduces the spread of aerosol particles outside of the closed system. The system can be used at home or in a hospital setting.
The funds will be used to increase commercialization of BiWaze Clear, scale U.S. sales initiatives, invest in clinical research, and increase patient engagement and digital health capabilities.
“This investment marks a pivotal moment for ABM Respiratory Care as we expand access to our respiratory therapy platform and bring transformative solutions into more homes and hospitals,” Greg Miller, CEO of ABMRC, said in a statement.
“We are grateful for the support of our new and existing investors who are excited about our vision for intelligent, connected therapies of people struggling to breathe.”
MARKET SNAPSHOT
In 2024, ABM Respiratory Care received expanded FDA 510(k) clearance for its BiWaze Clear System for use with a ventilator in acute care environments.
The expanded indication presented acute care facilities with a therapeutic option for ventilated patients with atelectasis (a collapsed lung), retained secretions or pneumonia.
Other players in the respiratory care space include Taiwan-based FaceHeart, which in May obtained regulatory approval in the U.S. for its AI-driven contactless technology for measuring respiratory rate.
It obtained a 510(k) clearance from the FDA for the respiratory rate measurement component of its software development kit.
FaceHeart offers a software development kit that utilizes a smartphone’s camera to capture vital signs, including heart rate, respiratory rate, blood pressure, oxygen saturation and heart rate variability.
In 2024, the South Korean Ministry of Food and Drug Safety approved EasyBreath by Share and Service, which assists in respiratory rehabilitation.
EasyBreath by Share and Service is a mobile application that offers an eight-week respiratory rehabilitation program for individuals with chronic obstructive pulmonary disease, asthma and lung cancer. It aims to reduce breathlessness while helping improve a user’s aerobic capacity.
