Europeanhhm
BD - Earth day 2024

Nasal Specimen Collection Device: $1.6M Seed Funding Fuels Breakthrough in Upper Respiratory Infection Diagnosis by University Medical Devices

Wednesday, February 21, 2024

University Medical Devices (UMD) has successfully concluded its first round of seed funding, raising $1.6 million to drive its mission of revolutionizing healthcare diagnostics. UMD, in collaboration with the University of Nebraska Medical Center and its commercialization wings UNeMed/UNeTech, is committed to introducing cutting-edge healthcare technology to the market.

The funding will be allocated towards enhancing UMD's infrastructure, including regulatory compliance, medical standards, legal requirements, manufacturing processes, packaging, and sales and marketing initiatives. This significant financial milestone brings UMD closer to achieving profitability and sustainability, with a primary focus on the launch of its flagship product, MicroWash.

MicroWash is designed to address the challenges posed by the "tripledemic" – flu, COVID, and RSV – as well as other respiratory infections. Developed during the initial stages of the COVID-19 pandemic, MicroWash offers a comfortable and high-quality nasal specimen collection method, presenting a less invasive alternative to nasal swabs for laboratories, patients, and healthcare providers. Its importance is particularly notable for higher-risk populations, representing a crucial step towards mitigating the global impact of future pandemics.

This achievement marks a significant milestone for UMD, paving the way for the company to pursue further innovative healthcare solutions. Looking ahead, UMD plans to launch an aggressive sales campaign in the first half of 2024, targeting medical supply distributors, national reference laboratories, health systems, health plans, municipal and federal government agencies. The availability of the device is anticipated later this year.

Prospective customers and stakeholders can anticipate a range of paradigm-shifting sample collection products from UMD in the coming years, further solidifying its position as a leader in the healthcare industry.

Source: businesswire.com

The Healthcare Patient Experience & Engagement Summit 2024Healthcare Innovation & Transformation SummitHealthcare CNO SummitHealthcare CMO Summit