“Despite the prevalence of pain, there are currently no clinically accepted tools to objectively assess pain.” Hopefully this startup will change that
Pain monitoring innovators Medasense Biometrics announced today that they have closed their Series B funding round, bringing home $8 million in new financing. New investor Benslie International Ltd led the round, joining an unnamed strategic investor and their previous investors in helping the Medasense team on their way to taking their device to market.
Founded in 2008 by CEO Galit Zuckerman, the company is based in Ramat Gan outside of Tel Aviv. From the outset, Zuckerman tells Geektime that Advisory Board members Dr. Itay Goor-Aryeh and Professor Elon Eisenberg MD have been there to help direct the development of their product. The company has also received financing and guidance from Medoc Ltd.
What Medasense has developed is a system that helps to gauge pain for patients who are unable to speak for themselves. Their flagship product called PMD-200 is geared for operating rooms and critical care situations where patients would normally be under anesthesia.
One of the challenges in the field of pain management is the fact that pain is by nature a very subjective feeling. Unlike blood pressure, every person feels pain differently, making it difficult for caregivers to gauge. The PMD-200 system is able to create what they call a “signature of pain” that is specific to the individual, monitoring multiple pain related physiological signals through a non-intrusive finger monitor.
“We are excited by the support provided by our investors” commented Zuckerman, Medasense’s CEO and founder in her statement to the press. “Despite the prevalence of pain, there are currently no clinically accepted tools to objectively assess pain. Objective and accurate pain assessment can support clinicians to optimize and personalize pain management, helping improve patient outcomes at hospitals, clinics, and at home.”
Zuckerman tells Geektime that the idea for the device came when she heard stories from her mother, a surgical nurse, of people under anesthesia undergoing surgery that were waking up from significant pain. She wanted to find a better way to be able to monitor pain for those who were otherwise unable to express it themselves, not just in the operating room.
Looking to the future and competition
While still in Beta stage, the PMD-200 is undergoing clinical trials in Israel, Europe, the U.S., and Canada as they await approval from the various government regulatory bodies.
The company has stated that they intend to release their product in Europe later this year.
Another firm called Medisize out of the Netherlands appears to be developing a similar product that they call the Med Storm Pain Monitor. It is unclear at this stage how far along this competing device is in reaching the market, as it is not listed on their official website.
Medasense has been working on their product for a very long time, with trials dating back to 2010. As with anything in the medical device sector, these kinds of projects can take considerable amounts of time to get through the proper testing and approval.
Zuckerman tells Geektime that their long term goal of the project is to cause a revolution in the way that doctors manage pain today, reduce the suffering from pain as well as the side effects of the painkillers, and personalize the way that pain is managed.