Medical Device Network

Daily Newsletter

14 September 2023

Daily Newsletter

AWAK Technologies receives funding for wearable dialysis device trial

The funding will help make essential improvements to the ultraportable PD device for the final pivotal trial in the US.

AWAK Technologies has obtained more than $20m in Series B funding for the US-based pivotal trial of its wearable dialysis device.

Co-led by Vickers Venture Partners and Lion X Ventures, the round included participation from investors Eckuity Capital and Advanced MedTech.

Called AWAK PD, the ultra-portable peritoneal dialysis (PD) system allows kidney disease patients to undergo dialysis at home and anywhere on the go.

The company will use the proceeds for various crucial initiatives to conclude its ongoing human pre-pivotal clinical study with Singapore General Hospital.

The funding will also help the company improve the ultraportable PD device for the final pivotal trial in the US, anticipated to begin in 2025.

It will further enable the advanced development of new products, including complementary products to support home dialysis and integrate digital solutions for enhancing the home-based care of chronic kidney disease patients.

AWAK Technologies CEO Suresha Venkataraya said: “The significant investment in this round, at a higher valuation than our Series A, is a testament to the remarkable progress we've made with our ultraportable device and strategic portfolio expansion.

“This investment now propels us towards new and exciting milestones, including further development of our PD product and an upcoming pivotal clinical trial in the US.”

Generative AI set to transform the medical devices industry

Generative AI can improve personalized healthcare by collecting data from patients via wearable devices, which can provide continuous, real-time data that can complement traditional data sources such as imaging, patient records, and more. It can also enhance existing imaging techniques by generating high-quality images of organs using data from low-resolution images (such as ultrasounds). However, the collection and use of patient healthcare data through AI medical products could conflict with regulations around the globe.