CDX Medical Technologies Raises $2.5M in Series A to Advance ECMO Innovation
CDX Medical Technologies (CDX), a company developing extracorporeal membrane oxygenation (ECMO) pump technology, has closed a $2.5 million Series A funding round. The investment was led by Joe Kiani, founder of Masimo and a long-time entrepreneur in the health technology space. Kiani will also join the CDX Board of Directors as part of the investment.
Other participants in the round included healthcare industry executives and members of CDX’s Board.
Funding Goals
The newly secured funding will support:
- Completion of regulatory testing
- Market approval submissions
- Early-stage commercialization
- Team expansion
Board Appointments and Leadership Commentary
Kiani, who also founded Willow Laboratories and co-founded Like Minded Labs, brings significant experience in medical device development and commercialization.
“We are thrilled to have Joe on the CDX team. Joe brings a wealth of experience and insight into the world of respiratory care and intelligent medical devices,” said Dr. Gopal K. Chopra, Co-CEO of CDX. “His investment and contributions at the Board level will significantly assist the company in creating a new market and disrupting respiratory care to the benefit of patients worldwide.”
Co-CEO Rick Smith added:
“Joe’s involvement brings the expertise to navigate the global landscape of medical devices and strategic insight into growing markets.”
Kiani emphasized the need for improved ECMO technologies:
“ECMO is a lifesaving solution, but today it takes too much from our valued resources and therefore it’s only provided to a few,” said Kiani. “CDX is revolutionizing ECMO by making it not just small and portable, but by practically automating it. The CDX platform will benefit respiratory failure patients worldwide in an area that has needed disruption.”
Clinical Perspective
Dr. Hugh Cassiere, Director of Critical Care, Cardiac Services at South Shore University Hospital of Northwell Health, and chair of the FDA’s Anesthesiology and Respiratory Therapy Devices panel, commented on the company’s clinical direction:
“CDX is providing a much-needed innovation where nothing exists. The company has demonstrated its commitment to innovation and incorporating the clinical need, and we are very excited to be a lead potential site for the commercial release.”
Next Steps for CDX
Following successful bench and in vivo testing, CDX is preparing to submit its ECMO pump system for regulatory approval. The company plans to use the Series A funds to finalize submission testing and begin commercial development.
