Raydiant Oximetry Secures $1 Million Grant to Advance Fetal Monitoring Technology
SAN RAMON, CA, UNITED STATES, September 24, 2024 /EINPresswire.com/ -- Raydiant Oximetry, Inc., a clinical-stage medical device company developing innovations to keep mothers and babies safe during childbirth, has announced the receipt of a $1 million grant from the Bill & Melinda Gates Foundation. The grant will support the development of Raydiant’s Lumerah™ technology, a non-invasive fetal pulse oximeter designed to enhance the detection of fetal distress during childbirth.
Lumerah™ measures fetal blood oxygen saturation to provide real-time insights during labor and delivery. The technology recently received breakthrough device designation from the U.S. Food and Drug Administration (FDA) for expedited review. It has also gained Investigational Device Exemption (IDE) approval to begin an Early Feasibility Study (EFS) involving pregnant women in labor. The first participant was enrolled on May 15, 2024.
The grant will be used to leverage data from the EFS to further refine the Lumerah™ technology, preparing it for clinical studies in low- and middle-income countries where it has the potential to significantly improve childbirth outcomes. “We invested in Raydiant because of the opportunity Lumerah has to materially impact maternal health globally,” said Annie Theriault, Managing Partner of Cross Border Impact Ventures.
Raydiant is establishing an Impact Advisory Committee to guide its global strategy and oversee resource allocation, ensuring the technology's maximum global impact. The committee will include representatives from the Bill & Melinda Gates Foundation as well as Cross Border Impact Ventures.
“We are honored to receive this grant from the Bill & Melinda Gates Foundation,” said Neil P. Ray, MD, founder and CEO of Raydiant Oximetry. “We look forward to collaborating with their team to extend our global reach and make a lasting difference in maternal and fetal health worldwide.”
About Raydiant Oximetry, Inc.
Raydiant Oximetry is a venture-backed, clinical-stage company dedicated to improving outcomes for mothers and babies during childbirth. The company was founded by Neil P. Ray, MD, a pediatric anesthesiologist, to find a solution to the pervasive problem of identifying fetal distress and potentially avoiding medically unnecessary C-sections, which can have short- and long-term implications for the mother and child. The company has developed two innovative technologies, Lumerah™, a low-cost, non-invasive sensor that continuously monitors fetal oxygenation during labor, and Daisy™, a vacuum induced surgical tool for Ob/Gyn applications. Learn more: Raydiantoximetry.com.
Lumerah™ measures fetal blood oxygen saturation to provide real-time insights during labor and delivery. The technology recently received breakthrough device designation from the U.S. Food and Drug Administration (FDA) for expedited review. It has also gained Investigational Device Exemption (IDE) approval to begin an Early Feasibility Study (EFS) involving pregnant women in labor. The first participant was enrolled on May 15, 2024.
The grant will be used to leverage data from the EFS to further refine the Lumerah™ technology, preparing it for clinical studies in low- and middle-income countries where it has the potential to significantly improve childbirth outcomes. “We invested in Raydiant because of the opportunity Lumerah has to materially impact maternal health globally,” said Annie Theriault, Managing Partner of Cross Border Impact Ventures.
Raydiant is establishing an Impact Advisory Committee to guide its global strategy and oversee resource allocation, ensuring the technology's maximum global impact. The committee will include representatives from the Bill & Melinda Gates Foundation as well as Cross Border Impact Ventures.
“We are honored to receive this grant from the Bill & Melinda Gates Foundation,” said Neil P. Ray, MD, founder and CEO of Raydiant Oximetry. “We look forward to collaborating with their team to extend our global reach and make a lasting difference in maternal and fetal health worldwide.”
About Raydiant Oximetry, Inc.
Raydiant Oximetry is a venture-backed, clinical-stage company dedicated to improving outcomes for mothers and babies during childbirth. The company was founded by Neil P. Ray, MD, a pediatric anesthesiologist, to find a solution to the pervasive problem of identifying fetal distress and potentially avoiding medically unnecessary C-sections, which can have short- and long-term implications for the mother and child. The company has developed two innovative technologies, Lumerah™, a low-cost, non-invasive sensor that continuously monitors fetal oxygenation during labor, and Daisy™, a vacuum induced surgical tool for Ob/Gyn applications. Learn more: Raydiantoximetry.com.
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