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Simergent has developed an easy-to-use, affordable dialysis device for patients suffering from kidney failure
OKLAHOMA CITY — i2E, Inc., recently led a $1.2 million investment round in Norman-based Simergent, LLC, a startup company that developed a peritoneal dialysis device that is affordable and easy to use.
The investment round included $500,000 from the i2E-managed Oklahoma Seed Capital Fund, along with $119,000 from the SeedStep Angels, an Oklahoma investment group founded and managed by i2E. Other investors contributed the remaining $581,000.
Peritoneal dialysis is a technology for filtering toxins out of the blood of people whose kidneys have failed. It is an alternative to hemodialysis, which is the most prevalent dialysis method by far in the United States.
Simergent intends to use the investment funding for multiple initiatives that will advance the company and its technology, said Steve Lindo, co-founder and CEO.
“This funding will provide the necessary resources for Simergent to expand our team of engineers, enhance the device’s design, and perform patient-centered activities required for regulatory approvals,” Lindo said. “We are grateful to i2E and all our high quality investors. Nephrologists around the globe are excited about the prospect of our Archimedes dialysis device, which provides significant cost reduction for home dialysis while the patient sleeps, thus allowing patients to live a normal life rather than traveling to a dialysis clinic three days per week.”
The Oklahoma Seed Capital Fund is a state-appropriated investment fund managed by i2E through the Oklahoma Center for the Advancement of Science and Technology.
The SeedStep Angels group was founded by i2E in 2009 and is now the state’s largest angel investment group with more than 50 members and chapters in Oklahoma City, Tulsa, Ardmore and Muskogee.
About Simergent
Founded in 2014, Simergent provides a solution to the world-wide problem of kidney failure. It created an affordable technology to bring peritoneal dialysis to patients in emerging countries around the world. Peritoneal dialysis is an alternative to hemodialysis, which is the most prevalent dialysis method by far in the United States. In peritoneal dialysis, there is no blood and no needles involved. Instead, the patient has a surgically implanted port in their abdomen and a machine delivers a sugar and electrolyte solution into their abdomen. The solution delivered by peritoneal dialysis draws wastes, toxins, and extra fluid from the tiny blood vessels in the peritoneal membrane , which is then drained from the patient.
About i2E, Inc.
With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $50 million of investment capital under management. www.i2E.org
