Quadritics Inc., a developer of innovative medical devices in the digital health field, has raised a total of 300 million yen in equity funding in its Series A round through a third-party allotment of new shares from Lifetime Ventures, Kyoto Capital Partners, Crosstech Ventures, and individual investors.
In addition, on September 11, 2024, the company was selected for the New Energy and Industrial Technology Development Organization (NEDO)’s Deep Tech Startup Support Project (STS Phase), which will provide a subsidy of up to 300 million yen. This brings the total amount raised in this series to 600 million yen.
We are developing a programmable medical device called the “epileptic seizure warning device” (tentative name, generic name: epilepsy alarm) that uses a wearable device to detect signs of epileptic seizures in real time and warn patients a few minutes before a seizure occurs.
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The funds raised this time will be used for the following purposes:
Conducting clinical trials in Japan
Driving regulatory approval and reimbursement strategies in Australia and the United States
Business development and quality control system for the global market
Professor Patrick Kwan of Monash University’s Department of Neuroscience, an international leader in epilepsy research and a clinical researcher focusing on personalized medicine and the application of AI, said, “Epilepsy seizures are difficult to predict and have a significant impact on patients’ quality of life. The technology Quadritics is developing offers the potential to provide early warning of the signs of a seizure, helping patients live safer and more secure lives. From the perspective of personalized medicine, I hope that this type of non-invasive approach will be applied clinically and that it will benefit even more patients.”
The company is adopting a strategy to aim for US FDA approval, using pharmaceutical approval in Australia and insurance reimbursement through the NDIS (Disability Insurance Scheme) as a foothold. In 2024, the company was selected as the first Japanese company for MedTech Actuator’s acceleration program “Cohort 9”, and established an Australian subsidiary, “Quadlytics Pty Ltd”. It is currently building a business strategy for expansion into Australia and the US, with the goal of launching the product in Australia in 2028.
Buzz Palmer, CEO of MedTech Actuator, a physician, serial entrepreneur, and someone who has supported numerous medical startups, said, “Japan is home to a wealth of innovative early-stage technologies and ideas. It’s inspiring to meet teams like Quadritics that are turning these into products and businesses that can be deployed globally. We look forward to seeing startups like them further strengthen the health tech ecosystem connecting Australia, Japan, and the Asia-Pacific region.”
MedTech Actuator has also become a shareholder of our company in this round, and we expect to further deepen our collaborative relationship and receive further support.
In the United States, the company has been selected for the innovation support programs “Mayo Clinic Platform Accelerate” and “Mayo Clinic Innovation Exchange” run by Mayo Clinic, and in collaboration with some of the world’s largest medical institutions, is advancing clinical research and regulatory strategies for expansion into the U.S. market. Currently, the company is proceeding with phased demonstration and regulatory preparations with the aim of expanding into the U.S. in 2030.
SOURCE: PRTimes
