i2E invests in medical innovation
in Oklahoma Business Briefs
Copyright © 2016, The Oklahoma Publishing Company
i2E Inc. recently led a $1.25 million seed round investment in Linear Health Sciences, a Norman-based innovative medical technology startup.
Founded in 2015 by Ryan Dennis, M.D., Linear Health Sciences developed a patented, nonmetallic breakaway device for medical IVs that connect hospital patients to therapeutics. The company’s technology addresses a problem involving up to 25 percent of the more than 1 billion IV connections placed in hospital patients annually when patient IV’s are accidentally disconnected.
The seed round included $515,000 invested by the i2E-managed Oklahoma Seed Capital Fund, along with $250,000 from the Oklahoma Angel Fund, a new investment vehicle created and managed by i2E. Other participants include $105,000 from the i2E-managed SeedStep Angels and other angel investment of $380,000.
“We plan to put most of this investment to work in developing manufacture grade tooling and molds for our Orchid Valve IV connection,” Dennis said. “The remaining amount of the investment will be used to finance the FDA approval process and the consultants who are assisting us.”