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Published on December 24, 2024 • 4 minutes read
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VANCOUVER, British Columbia & MELBOURNE, Australia – Proton Intelligence Inc., developer of the first-ever Continuous Potassium Monitoring (CKM™) platform, today announced the closing of its USD $6.95 million Seed Funding round funded by SOSV, We Venture Capital, Tenmile, LongeVC, 15th Rock, Exor, and Trampoline Venture Partners.
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The CKM™ platform is designed to revolutionize the management of cardio-kidney-metabolic diseases by providing physicians and patients with valuable data about potassium levels on demand. Potassium is the most important biomarker in cardiovascular-renal-metabolic diseases and the most difficult to measure. Dangerous fluctuations in potassium levels—either too high or too low—lead to heart failure and sudden cardiac death. The inability to provide timely potassium levels to patients and providers is a major barrier to getting patients on the right life-saving therapies. About 33% of people with chronic kidney disease (CKD) or heart failure (HF) unnecessarily stop life-saving treatment after a high potassium event, leading to a nearly 40% increase in six-month mortality. [ 1]. Proton’s CKM™ technology aims to provide providers and patients with accurate, remote, continuous potassium levels that allow accurate treatment of patients suffering from kidney disease or heart failure.
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“We are proud to be the first institutional investor in Proton Intelligence,” said Mohan S. Iyer, General Partner at SOSV. “The team’s exceptional focus and relentless execution inspires confidence, and we are excited to continue to support them as they move into clinical validation.”
“We at Venture Capital are impressed by this real breakthrough in electrolyte sensing, which will fill an important gap in the advancement of care for many patients at risk of dyskalemia. We look forward to working with the Proton Intelligence team on the next stage of their journey,” said Dr. Louise Warme, Head of We Venture Capital.
The company has begun clinical studies testing the effectiveness of CKM™ in people living with kidney impairment such as the underserved population living with end-stage renal disease (ESRD) or chronic kidney disease (CKD). According to the United States Renal Data System (USRDS), 14% of US adults have CKD and it accounts for >25% of Medicare spending. Patients with ESRD account for 7% of US Medicare spending annually [ 2].
“The ability to continuously monitor potassium will make it easier to make data-driven decisions in patients with chronic kidney disease or on dialysis, not only improving the results of these patients but saving health systems significant costs,” said Dr. Steve Burnell, Managing Director. in Tenmile.
“This fundraising milestone represents a big step for us,” said Dr. Sahan Ranamukhaarachchi, Founder and CEO of Proton Intelligence Inc. “We are very grateful for the trust and support of our investors, who share our vision of revolutionizing cardio-kidney. – metabolic care. Their belief in our mission sees us funded by a number of feasible clinical trials before the important research planned for 2026 and closer to making CKM™ literally millions of patients.”
About Proton Intelligence Inc.
Proton Intelligence Inc. its headquarters are there Vancouver, Canadawith internal R&D operations Melbourne, Australia. The company is revolutionizing healthcare with its continuous electrolyte monitoring technology, starting with CKM™ for potassium (similar to continuous glucose monitoring for diabetes). The CKM™ platform addresses a critical challenge in the management of cardio-kidney-metabolic diseases by enabling the safe implementation of optimal therapies.
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About SOSV
SOSV is a multi-stage, deep investor committed to “human and planetary health,” and invests in startups, “First Check in Deep Tech®.” Headquartered in Princeton, NJ, SOSV operates intensive startup development programs in New York City and San Francisco (IndieBio) and Newark, NJ (HAX) equipped with bio-safety, chem, food, EE, analytics and mechatronics. The SOSV ecosystem spans the globe, with 800+ startups operating in 40 countries.
About We Venture Capital
We Venture Capital is a specialized fund that invests in diagnostics, as well as digital tools and solutions in the diagnostics space. As the investment company of Werfen, the global leader in specialty diagnostics, We Venture Capital is an active investor, using the network and knowledge from Werfen to benefit our investment. We invest in and partner with startups near market entry or low-cost growth, working closely with our portfolio to support their growth over time. We are strong believers in technological advancements as a way to improve patient outcomes and transform healthcare.
About Tenmile
Tenmile is a health technology investment business that partners with emerging companies to address unmet needs in healthcare and develop Australia’s healthcare ecosystem. Launched in September 2022 with a commitment of $250m with team members in Perth, Sydney and New York. Health technology includes digital health, diagnostics, medical devices, tools, and therapies.
Visit our website for more information: https://www.protonintelligence.com/
View the source version on businesswire.com: https://www.businesswire.com/news/home/20241224844196/en/
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