Alio Medical, a wearable technology company enabling insights through clinical grade real-time data, has announced the close of a financing round totalling US$20 million.
The company says it will use the funding to conduct clinical studies on expanded indications and support the platform’s initial commercialisation, as well as expand the company’s enterprise partnerships within the United States and Europe.
“This funding provides us with the resources to advance key clinical programs and partnerships assessing remote monitoring benefits for chronic kidney disease and dialysis patients, and further enhance our transformative technology to strategically scale our platform,” says David Kuraguntla, Alio’s co-founder and CEO.
Thomas Krebs, former treasurer of Penumbra, adds that: “The approach to chronic kidney disease and dialysis has not changed all that much in decades, and it remains a huge burden to the healthcare system.”
Krebs argues that Alio’s sensors and remote monitoring platforms offer the ability to decrease the cost and increase the availability of real-time insights on chronic kidney disease and other conditions.