US-based medical technology firm Outset Medical has secured $132m funding to advance the commercialization of its Tablo hemodialysis system.
Outset Medical is focused on technology-driven service model innovation intended at decreasing cost and transforming the patient care experience.
The series D equity financing round was headed by Abu Dhabi-based Mubadala Investment Company.
Other participants include existing investors such as Baxter Ventures, Fidelity Management and Research Company, Partner Fund Management, Perceptive Advisors, funds advised by T. Rowe Price Associates and Warburg Pincus.
Mubadala pharma and medtech senior vice president Camilla Macapili Languille said: “Our investment in Outset Medical represents an exciting opportunity for Mubadala, as it is aligned with our goal of improving people’s lives while meeting a major global market need.”
Outset Medical will use the funding to increase production capabilities and enhance the commercial expansion of its Tablo hemodialysis system in acute and chronic care markets in the US.
Tablo hemodialysis system has already secured CE mark and approved by the US Food and Drig Administration (FDA) for use in acute and chronic care settings.
The firm is also carrying out a clinical trial to expand Tablo’s labeled indication to include home use, in addition to its acute and chronic care commercial expansion.
Tablo is said to function as a dialysis clinic on wheels, with its real-time water purification and dialysis fluid production integrated in a single and compact system.
By using an electrical outlet and tap water, Tablo enables to avoid the use of expensive clinic infrastructure and provide-effective dialysis in a range of different use environments.
Outset’s Tablo system is provided with wireless data, sensor-based automation and an animated touchscreen, providing healthcare professionals and patients better user experience.
Outset Medical CEO Leslie Trigg said: “Tablo offers patients and healthcare providers a new option for more flexible and convenient dialysis treatment, improving the dialysis experience while at the same time reducing overall dialysis spend.
“We are grateful to our investors for the opportunity to significantly impact the future of dialysis care.”
Based in Silicon Valley, Outset Medical is a commercial-stage company involved in delivering of first-of-its-kind technology to the global dialysis market.