Medical device startup raises nearly $1M via crowdfunding campaign
Summary
Oracle Health, a Safety Harbor-based medical technology startup, has added to its fundraising haul with a nearly $1 million campaign on Republic.co, a crowdfunding website. Were going to be reaching $4 million by July.Oracle Health is developing a tiny cardiac device that can easily be inserted into a patients chest to monitor and prevent heart failure hospitalizations. The Oracle Health solution is also an alternative to invasive catheter lab procedures that are accurate but complex and expensive.Bang said the device should be ready for testing in animals by the end of the year, and if all goes well, he expects to win FDA approval in 2022 and then go to market in 2023. And thats just for patients who are in immediate need of this solution.With just one major player, Abbott Laboratories, dominating the space, Bang said the heart failure monitoring market is both large and limited. The company was also part of Tampa Bay Waves 2020 TechDiversity Accelerator cohort.As a result of its participation in JLABS, Bang was given office space at the Texas Medical Center, a $50 million facility.