Velosal Medical, a Cary-based medical device company, is raising $3 million in debt financing according to a regulatory filing.
The company has sold $20,000 of the debt offering, according to a filing with the US Securities and Exchange Commission: http://www.sec.gov/Archives/edgar/data/1620056/000162005616000001/xslFormDX01/primary_doc.xml
On its website the company says its mission is to become a medical industry leader in design, development and marketing of innovative devices to enhance and improve patient care in the critical care and emergency markets.
Specifically it says, “Velosal Medical has developed an innovative video guided laryngoscope for use in tracheal intubations that allows clinicians and first responders to use a video enabled laryngoscope to better visualize the airway when placing an endotracheal tube. The product will be available in multiple size blades to accommodate neonatal, infant, adult and obese patients. The packaged product will be immediately available for routine and emergency use without the need of any additional equipment.”
Tracheal intubation is a medical procedure in which an endotracheal tube is placed into the windpipe (trachea), through the mouth. A laryngoscope is a device used to navigate the path for proper insertion of an endotracheal tube into the trachea while avoiding the esophagus.
In an emergency situation the inability to get air to the patient can be life-threatening, with permanent brain damage starting as soon as four minutes and death than 10.
The company says Video guided laryngoscopy has been proven to have numerous advantages over traitional directd laryngoscopy2 in peer-reviewed published studies.
There is a significant potential market for the device. Data from the 2010 National Hospital Discharge Summary indicates over 51 million procedures are performed every year in the US3 with a large number of these begin performed under a general anesthetic.
Estimates indicate there were approximately 25 million intubations performed in the US in 2010 and over 50 million per year worldwide. The market opportunity for advanced airway management products is estimated between $20 to $30 billion per year.4 Airway management products are growing an estimated 10 percent per year.5
