Funding will help Strados advance the power of its smart sensors to provide early detection and predictions of infectious respiratory diseases
Philadelphia, PA, March 10, 2020 — Strados Labs, a medical technology company harnessing the power of smart sensors, machine learning and proprietary algorithms to provide early detection and predictions of worsening respiratory diseases, announced today it has been awarded a two-year Small Business Innovation Research (SBIR) Phase II grant from the National Science Foundation (NSF) for $990,118.
“It’s such an honor to receive this grant from such a highly regarded agency as the National Science Foundation,” said Strados co-founder and CEO Nick Delmonico. “This is an exciting time for Strados and the work we do in predictive algorithms for cardiopulmonary events like heart failure, COPD exacerbation and asthma, to name a few.”
The Strados RESP smart sensor platform for respiratory health is the first technology of its kind, providing real-time access to key changes in lung acoustics and respiratory patterns that goes well beyond cough measurement.
This award comes on the heels of key commercial milestones, including a pre-series A funding round of $4.5M and receipt of a CE Mark at the end 2021. The funding will help to further validate the RESP platform, enhance algorithm performance and expand marketing claims of the platform to enable early and lower cost treatment of chronic respiratory conditions and infectious disease in remote care settings via telehealth.
Delmonico adds, “This grant will be used in the further development of a standardized database for things like wheezology and coughology [acoustic biomarkers] to predict disease progression and personalize care.”
The current standard of care relies on intermittent monitoring via stethoscope by a trained healthcare professional, which raises a significant inter-user variability in assessment and classification of lung sounds. RESP allows for the prolonged monitoring and archiving of lung acoustic signals for subsequent evaluation and is also an invaluable remote monitoring tool for researchers performing clinical trials of new drugs for respiratory and chronic diseases.
About Strados Labs
Strados Labs is a medical technology company developing smart sensor platforms that utilize machine learning and proprietary algorithms to detect and predict compounding conditions associated with serious, chronic respiratory diseases to improve the lives of patients globally. The Company developed a first-of-its-kind smart sensor platform for respiratory health, RESP™. Strados was recently granted a CE Mark for RESP™ and received its FDA Class II 510(k) clearance for it last December. The Company is developing a robust pipeline algorithm to support and address other chronic diseases, as well as chronic disease management pathways. Strados will continue to target asthma, COPD and infectious respiratory diseases (COVID, RSV, etc.) as it moves into 2022—with plans to add heart failure and pediatrics in late 2022. The Company is based in Philadelphia and is a privately held company. For more information, visit: stradoslabs.com
About the NSF’s Small Business Programs
America’s Seed Fund, powered by the NSF, awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million to support research and development, helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research program. The NSF is an independent federal agency with a budget of about $8.5 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.
Inspire Agency (formerly B Squared)