April 1, 2020
Contact: Sarah Seagraves,
Senior VP for Marketing
(405) 813-2403
sseagraves@i2E.org
Oklahoma City, OK-based Linear Health Sciences has developed a globally patented medical device known as the Orchid Safety Release Valve (SRV), designed to limit disconnection of IV catheters for patients worldwide.
OKLAHOMA CITY — i2E Management Company, Inc. (iMCI), recently led an $11.535 million go-to-market investment in Oklahoma City-based Linear Health Sciences. The investment comes on the heels of continued successes for the Orchid SRV, the company’s flagship medical device designed to reduce accidental IV catheter dislodgement in a novel way.
The iMCI-led investment in Linear Health Sciences includes $2.5 million from Plains Venture Partners I, as well as $1,000,000 from the Accelerate Oklahoma Fund and $500,000 from the Oklahoma Angel Fund II. Plains Venture Partners I, the Accelerate Oklahoma Fund, and the Oklahoma Angel Fund are each managed by iMCI. The remainder of the round was completed by local investors.
The $11.535 million Series B investment round follows a $1.25 million Seed round in 2016 and a $1.54 million Series A in 2018, both led by i2E, Inc., parent company of iMCI.
Co-founded by Oklahoma physician Dr. Ryan Dennis, CEO, and Dan Clark, President, Linear Health Sciences is preparing to launch its globally patented device known as the Orchid Safety Release Valve (SRV), designed to reduce dislodgement of IV catheters from patients in most clinical settings. The company claims unwanted IV catheter dislodgement costs the U.S. Healthcare system over $1 billion annually, not to mention pain and treatment interruptions experienced by patients.
“The concept of our device is quite simple,” Clark said. “If you’ve ever seen someone drive away from a gas station with the hose still in the car, the hose rips away from the terminal, but no gas is spewing from the terminal and no gas is coming out of the car.
“We did the same thing, but we did it for your veins.”
“This funding round cements our relationships with elite partners and slingshots us toward our ultimate goal of improving the standard of care for how patients everywhere are connected to their treatments,” Dr. Dennis said.
Plains Venture Partners is a growth-oriented venture fund focused on investing in entrepreneurs and technologies with a strong potential for disruption. Plains evaluates companies that have established proof of concept, including strong market validation and a demonstrated ability to execute. Plains is committed to deploying capital across the central United States in teams that are capable, efficient and poised for growth.
The Accelerate Oklahoma Fund was created in 2011 by i2E to invest in Oklahoma-based startups and is managed by iMCI.
The Oklahoma Angel Fund is a pooled fund of individual angel investors, managed by iMCI, offering another source of potential investment for Oklahoma entrepreneurs.
About Linear Health Sciences
Founded by Ryan Dennis, M.D., and Dan Clark, Linear Health Sciences is a globally recognized MedTech Innovator company whose innovations address the issue of tension-based dislodgement of medical tubing for patients in most clinical settings. https://linearsciences.com/
About i2E Management Co. Inc.
i2E Management Company, Inc. (iMCI) is a private, for profit investment and fund management company operating as a wholly owned subsidiary of i2E, Inc. iMCI currently manages $81 million across five venture funds. iMCI makes investment decisions and provides investment management as General Partner and/or Managing Member of a growing number of privately managed venture capital funds. Since 2007, iMCI and i2E, Inc. have invested more than $50 million of equity funding into 62 companies. i2E.org
