CARI Health, Inc.

San Diego-based startup secures non-dilutive funding to conduct clinical studies and prepare for regulatory pathway with FDA for its novel wearable medication monitor SAN DIEGO--(BUSINESS WIRE)-- Digital health startup CARI Health was awarded an SBIR Fast Track grant from the National Institute on Drug Abuse (NIDA), an agency of the National Institutes of Health (NIH), to help it bring the world’s first wearable medication monitor to market. CARI Health is eligible for up to $2.8M over three years as project milestones are successfully completed within Phase I and Phase II portions of the grant. The award funding will go toward supporting product development and conducting human clinical studies for CARI Health’s wearable remote medication monitoring device. Over the past several years, CARI Health has received funding from the San Diego Angel Conference (SDAC), NuFund Venture Group, Cove Fund, Chemical Angel Fund, Device of Tomorrow Capital, and several individual angel investors. More recently, it received investments from the Cedars Sinai Accelerator and the Rady Venture Fund (UCSD). “As the national opioid crisis continues to escalate amid growing illicit fentanyl use, the discovery of new and innovative solutions is urgent,” says CARI Health Founder and CEO Patrik Schmidle. “Wearable remote monitoring is a convenient and patient-friendly way to demonstrate methadone treatment compliance remotely. Under today’s standard of care, especially in the beginning of methadone treatment, patients have to show up almost daily for clinic visits, which creates a significant barrier to begin and remain in treatment.” Schmidle originally launched CARI Health after a close family member struggled with opioid use disorder. By participating in programs like the Institute for the Global Entrepreneur MedTech Accelerator at University of California San Diego, MedTech Innovator, the world’s largest MedTech accelerator, and the Cedars Sinai Accelerator, CARI Health has benefitted from best-in-class mentorship and expert guidance. It was also selected as one of Connect San Diego’s 2022 Cool Companies and was honored again in 2023. In addition, CARI is part of San Diego-based EvoNexus, which has an average 2% admittance rate. “This NIDA grant will support CARI Health’s product development as we build on the success of our efforts to date,” said Schmidle. “And once our product is ready to be deployed in human studies, the funds will help us conduct those human trials.” Research reported in this press release was supported by the National Institute on Drug Abuse of the National Institutes of Health under award number R44DA059523-01. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institutes of Health. About CARI Health CARI Health is focused on the future of wearable remote medication monitoring, enabling clinicians to view patient medication levels in real time, and keep them on life-saving medications. , LinkedIn. View source version on businesswire.com: Contacts Hilary McCarthy Hilary@Clearpointagency.com 774-364-1440 Source: CARI Health View this news release online at:

Telesair, a medical device company developing hospital-to-home products for respiratory care, announced it had raised $22 million in Series A funding. The round was led by Pasaca Capital with participation from Honeywell Ventures, ZhenCheng Capital, Shangbay Capital, Device of Tomorrow Capital, Berkeley Catalyst Fund and Ultrastar Ventures LLC. The investment will be used to commercialize its Bonhawa Respiratory Humidifier, designed for use in the ICU, and support the development of a new product that aims to help patients leave the hospital more quickly and stay at home safely. "Honeywell is aligned with Telesair’s mission to improve lives through innovation in digital healthcare," Patrick Hogan, managing director of Honeywell Ventures, said in a statement. "We are impressed with their mission and technology roadmap, and we are excited to collaborate with them in critical areas such as advanced sensing and remote patient monitoring, enabled by artificial intelligence and machine learning." ModifyHealth, which delivers medically tailored meals and offers virtual support from dietitians, raised $10 million in a Series B funding round led by RC Capital with participation from existing investor Nashville Capital Network. The startup works with patients with chronic conditions like Type 2 diabetes, hypertension, kidney disease, obesity and irritable bowel syndrome. Modify, which raised its $2 million Series A in 2020, plans to use the funds to support its growth and expand its nationwide operations. "Diet and lifestyle play a vital role in the management of chronic health conditions and we're just scratching the surface on the impact we can make. RCC is a great fit for ModifyHealth and their strategic support, healthcare expertise, and shared vision will help us deliver outcomes more rapidly and broadly," GB Pratt, founder and CEO of ModifyHealth, said in a statement. Censinet, developer of healthcare cybersecurity software, scored $9 million in a funding round led by MemorialCare Innovation Fund. Other participants in the raise include Rex Health Ventures, Ballad Ventures, LRVHealth, HLM Venture Partners, Schooner Capital, Excelerate Health Ventures and Cedars Sinai. Censinet said the round brings its total funding pot to more than $22 million. "With the number of breaches escalating and ransomware now a direct threat to patient safety, the need for the healthcare industry to transform cyber risk management has never been more urgent. Censinet’s unique risk exchange enables providers, payers and vendors to collaboratively manage third party and enterprise risk, continuously improving risk posture in real-time and strengthening cybersecurity across all healthcare organizations," Ed Gaudet, the company's CEO and founder, said in a statement. Dutch startup Lapsi Health raised $3.7 million in a seed funding round led by Sahir Ali of Modi Ventures. The company is developing digital biomarkers using auscultatory sound, or internal body sounds from the heart, lungs and abdomen. Lapsi will use the capital to continue to develop their tools, submit to the FDA and expand into the U.S. market. CARI Health, which is developing a wearable sensor for medication management, raised $2.3 million in seed funding. The round was led by the San Diego Angel Conference (SDAC) with participation from NuFund Venture Group, Cove Fund, Chemical Angel Fund, Medical Devices of Tomorrow and angel investors. The startup is creating a sensor worn on the skin that allows for remote medication monitoring. If medication levels fall outside of set guidelines, patients, family members and providers can receive alerts. The capital will go toward completing its first human clinical studies, expanding its intellectual property portfolio and planning for a regulatory submission with the FDA. CARI will first focus on monitoring medications for opioid use disorder (MOUD). "We are passionate about the potential to make an impact and build something bigger than ourselves," founder and CEO Patrik Schmidle said in a statement. "Wearable remote monitoring would be life-changing for hundreds of thousands of MOUD patients, who under today’s standard of care have to show up almost daily for clinic visits, especially in the beginning of treatment."

Medical technology startup secures funding to begin in-patient clinical studies and prepare for regulatory pathway with FDA for first-ever wearable real-time medication monitor SAN DIEGO--(BUSINESS WIRE)-- Digital health startup CARI Health has closed an oversubscribed $2.3 million seed round that will help it bring the world’s first wearable real-time medication monitor to market. Funding was led by the San Diego Angel Conference (SDAC), with four additional investment funds participating, including NuFund Venture Group, Cove Fund, Chemical Angel Fund, Medical Devices of Tomorrow, and several individual angel investors. The funding will go toward completing first in-patient human clinical studies for CARI Health’s wearable remote medication monitoring device, expanding its intellectual property portfolio, and preparing for the regulatory pathway with the Food and Drug Administration. “San Diego Angel Conference Fund IV is excited to lead CARI Health’s successful seed round in 2022,” said Mysty Rusk, founder of the SDAC and Executive Director of USD's Free Enterprise Institute. “CARI Health is poised to have a tremendous impact on the nation’s opioid crisis, which currently impacts over 3 million Americans, drains more than a trillion dollars annually from the U.S. economy, and destroys the lives of many families.” While CARI Health’s solution can detect a number of medications, the first application will be to enable patients being treated with medications for opioid use disorder (MOUD) to prove treatment compliance remotely, without frequent clinic visits. “We are passionate about the potential to make an impact and build something bigger than ourselves,” says CARI Health Founder and CEO Patrik Schmidle. “Wearable remote monitoring would be life-changing for hundreds of thousands of MOUD patients, who under today’s standard of care have to show up almost daily for clinic visits, especially in the beginning of treatment.” Schmidle originally launched CARI Health via non-dilutive SBIR grant funding, after he witnessed a close relative’s struggle with opioids. The emergence of fentanyl has further exacerbated the crisis and increased demand for new solutions. By participating in programs like the Qualcomm Institute Innovation Space, Institute for the Global Entrepreneur MedTech Accelerator program at University of California San Diego, and MedTech Innovator program, the world’s largest MedTech accelerator, CARI Health has benefitted from best-in-class mentorship and advice. It was also selected as one of San Diego’s 2022 Cool Companies and is part of EvoNexus, which has a 1% admittance rate. The company anticipates raising its next round of financing in the second half of 2023 to support the regulatory clearance process and subsequent commercial product launch. “The fact that our seed round was oversubscribed despite a challenging fundraising environment is an enthusiastic validation of the technology and the need for our solution,” Schmidle said. About CARI Health CARI Health is focused on the future of wearable remote medication monitoring, enabling clinicians to view medication levels in real-time, customize dosages for patients, and keep them on life-saving medications. , LinkedIn.