HemoSonics is a Charlottesville, Virginia–based medical device company developing the Point of Care Analyzer to evaluate platelets, coagulation factors, fibrinogen and fibrinolytic proteins. The device’s first intended application is open-heart surgery, where rapid assessment of clotting is critical to prevent heart attack, stroke, pulmonary embolism and hemorrhage. The company says the analyzer aims to be faster and more usable at the bedside than existing biochemical coagulation tests and central-lab devices. HemoSonics sees additional use cases in trauma, intensive care, orthopedic surgery, neurosurgery, clot screening for oral contraception and perinatal care. Last fall the company engaged Cambridge Consultants to help advance development and prepare the device for large-scale clinical use. Management presented to investors in an event organized by Mid-Atlantic Diamond Venture Partners. HemoSonics is developing an ultrasound-based diagnostic platform called sonorheometry to speed and guide diagnosis and treatment of excessive bleeding and overactive clotting. The company is initially targeting cardiopulmonary bypass procedures and plans to use funding to finish product development and initiate clinical studies. Its prototype device is roughly the size of an iMac and will be smaller in production; the company intends to generate primary revenue from disposable test cartridges. HemoSonics is raising $3.5 million to develop the device. It estimates the cardiopulmonary bypass procedure market at $116 million and sees combined U.S. market opportunities across trauma, intensive care, orthopedic and neurosurgery, contraception clot screening, and perinatal care totaling more than $2 billion. William Walker, HemoSonics president, is a serial entrepreneur and a professor of biomedical engineering at the University of Virginia and previously co-founded PocketSonics.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2013