ATLANTA, GA--(Marketwired - May 17, 2016) - NFANT Labs LLC will kick off their Series B round of financing at the 10th annual Southeastern Medical Device Association (SEMDA) Conference to be held on May 18-19 in Nashville, Tennessee. The presentation will mark the third time NFANT will kick off financing efforts at SEMDA, having completed a $125K Seed and Series A round totaling $2.5M over the past two years. The upcoming Series B financing is anticipated to be $5M and will continue NFANT Labs' efforts to address the long overlooked and underserved market of neonatal feeding problems.
Infant feeding complications are one of the leading causes of delay in discharge from the Neonatal Intensive Care Unit (NICU) and driver of the cost of care. Up to 70% of premature and 10% of full-term infants exhibit trouble transitioning to bottle or breast feeding on their own, affecting over 1.5M infants in the U.S. and Europe annually.
NFANT Labs' previous financing rounds have yielded excellent results in a short time frame. Development of the patented flagship product, nfant® Feeding Solution, was completed in less than a year and resulted in the first Internet of Things (IoT) device ever cleared by the FDA for the NICU. Following clearance in late 2015, NFANT Labs oversubscribed the $1M second tranche of their Series A in less than three weeks to initiate commercialization efforts and build a scalable platform for additional connected medical products to compliment the nfant® Feeding Solution. Plans to expand NFANT Labs' product line beyond nfant® Feeding Solution are currently underway and will be aided by the additional funding.
Series B funds will enable NFANT to ramp up sales and marketing efforts, expand the product line and finance inventory and receivables to address demand. "We have facilities across the country using the product and we anticipate the need to scale quickly to meet the demand for nfant® Feeding Solution, as well as other products in the pipeline," said Lou Malice CEO. "There is no one adequately addressing this market, and we believe we are in a great position to do just that."
NFANT presented the nfant® Feeding Solution at the 2015 SEMDA conference prior to FDA clearance with a positive reception. "NFANT was a highlight of our Pitch Competition at last year's SEMDA Conference," said Jason Rupp, Executive Director at SEMDA. "With groundbreaking technology and a tremendous launch strategy, this is a company everyone should be excited about."
About NFANT Labs
NFANT Labs is an emerging medical device company based in Atlanta and focused on improving the outcomes and lives of neonatal infants through internet-connected medical devices. Its product, nfant® Feeding Solution, is the first FDA-cleared "Internet of Things" (IoT) medical device for the NICU. Improving the standard of feeding care by collecting objective data and tracking feeding progression has the potential to shorten NICU stays, reduce readmissions and deliver substantial savings. For more information about NFANT Labs and disclaimers about this release, please visit www.nfant.com. For additional information contact Lou Malice, CEO (lou@nfant.com). Contains forward looking statements. For accredited investors only.