MY01 – a medical technology company that uses microsensors to aid physicians in diagnosing compartment syndrome – announced it has raised a $12.5 million Series A funding round. The funding round was led by Investissement Quebec with participation from Desjardins Capital and Fondaction. This funding round will be used to expand commercialization activities in the United States.
MY01’s Continuous Compartmental Pressure Monitor (CCPM) aids in the diagnosis of compartment syndrome, which is a medical condition where pressure increases inside a muscle and restricts blood flow and causes pain. And if the pressure increases significantly and is not addressed, compartment syndrome could lead to amputation.
The MY01 CCPM embeds a microsensor into the compartment and translates continuous pressure data to both a monitor and a mobile app.
KEY QUOTES:
“This investment will support MY01’s goal of becoming the gold standard in the diagnosis of compartment syndrome. Our growth has been significant since our launch in the United States and this funding will allow us to accelerate our development while improving patient outcomes.”
— Charles Allan, Chief Executive Officer of MY01
“The technology developed by MY01 has great potential to transform the diagnosis of compartment syndrome as well as the quality of care. Investissement Québec is delighted to join this round of financing, which will support the commercialization and development of their technology. Our support demonstrates our desire to support promising companies in the life sciences sector, such as MY01, in order to continue to develop this important and strategic sector of our economy.”
— Guy LeBlanc, President and CEO of Investissement Québec
