New World Angels Invests $632,500 into Coagulo Medical Technologies
BOCA RATON, FL (December 28, 2020) – New World Angels (“NWA”) (www.newworldangels.com), Florida’s premier structured angel investment group, announced today that it has completed a $632,500 investment into Coagulo Medical Technologies (“Coagulo”) as part of a $6.5MM round led by 20/20 HealthCare Partners. NWA joins 20/20 HealthCare Partners, Sands Capital, Good Growth Capital, IAG Capital Partners and other investors in this round.
Coagulo is an MIT-born startup that has developed the world’s first precision-medicine platform for comprehensive and targeted blood clotting management. Coagulo’s rapid, point-of-care device is a major advancement for personalized diagnosis and management of all coagulation-related diseases. The device is ultra-portable, requires just drops of blood and will provide vital, clinically-actionable information within 10 minutes. It leverages a proprietary and entirely novel approach to coagulation testing, which is capable of parsing through the entire coagulation cascade to pinpoint deficiency or inhibition of specific coagulation factors and quantifies their effect on clotting time.
Current coagulation testing methods were developed over a half-century ago, provide only general information on blood clotting function and cannot identify the specific cause of a clotting abnormality. Outdated testing technology is akin to a generic check engine light, whereas Coagulo’s test is designed to isolate the issue down to a specific diagnostic code. “The device promises better health outcomes by permitting physicians to supplement clinical intuition with targeted information that they always wanted but no other technology could deliver,” said Dr. Galit Frydman, CSO and President of the company. “To be able to seamlessly deliver those comprehensive, sample-to-insight results using merely drops of blood, and to have that information within a clinically meaningful timeframe and at the bedside, will make Coagulo’s diagnostic platform a critical tool in meeting the ever-evolving challenges of coagulation management,” added Jarrod Niebloom, Coagulo’s CEO and Chairman of the Board of Directors. “No doubt the complex clotting issues that continue to be observed in patients with COVID–19 epitomize just how antiquated existing diagnostic tools are and how pressing the clinical need is.”
NWA member, Steven M. Gottlieb, MD, will join Coagulo’s Board of Directors as an observer. Dr. Gottlieb and Dr. David Schimel co-led NWA’s due diligence efforts, and were joined by Dr. Andrew Yin, patent attorney Ken Rubenstein and members Harvey Rothenberg and Jason Rawding. Dr. Gottlieb noted, “Particularly now, with the widespread and growing use of new classes of anticoagulant drugs, Coagulo’s revolutionary technology is urgently needed. We look forward to helping the talented team at Coagulo in bringing this disruptive diagnostics platform to market.” Niebloom commented, “We are excited to add an experienced medical investor such as New World Angels to our already strong institutional investor group to aid in Coagulo’s successful commercial launch.”
Commenting about 2020 investing, New World Angels’ President Steve O’Hara commented, “Although we had to adjust numerous business processes due to the pandemic, we will finish 2020 having invested over $3.2MM in three new portfolio companies and four follow-on rounds of existing portfolio companies. While slightly less than the prior two years, we are happy to have continued moving forward through the pandemic.”
About New World Angels:
New World Angels (NWA) (www.newworldangels.com) is a group of 75 accredited, private investors, operators and entrepreneurs dedicated to providing equity capital and guidance to early-stage entrepreneurial companies with a strong presence in Florida. Members of NWA have extensive experience in founding, building and managing companies in a wide variety of industries. NWA members are involved in the entrepreneurial communities from Miami to Jupiter on Florida’s east coast and from Naples to Tampa on Florida’s west coast. NWA has invested over $26MM in growing US and international companies that either are based in Florida or have a strong presence in the state. In addition to providing funding, NWA members make their expertise and resource networks available to portfolio companies to facilitate company growth.
About Coagulo Medical Technologies:
Founded in 2018 and based out of Alexandria LaunchLabs, Coagulo licensed technology out of MIT and the Massachusetts General Hospital (MGH) developed by Dr. Galit Frydman, the company’s CSO and President, who also holds appointments in the Division of Trauma, Emergency Surgery and Surgical Critical Care at MGH and in the Center for Biomedical Engineering at MIT. Coagulo (www.coagulomed.com ) has developed the next-generation of rapid, ultra-portable and comprehensive diagnostics for the personalized diagnosis and management of all coagulation-related diseases. Coagulo’s point-of-care device is not yet approved or cleared by the U.S. Food and Drug Administration for marketing in the United States.
MEDIA CONTACTS:
New World Angels Coagulo
Sarah Lucas Jarrod Niebloom
COO Chairman and CEO
(617) 894-5156 info@coagulomed.com