Ventis Medical partners with Dr. Greg Olsen, entrepreneur, engineer, and space traveler, to commercialize breakthrough lifesaving ventilator technology
PRINCETON, NEW JERSEY, USA, June 17, 2021 /EINPresswire.com/ -- Ventis Medical, Inc. (“Ventis”), pioneer in emergency ventilator technology, today announced successful SEED funding to commercialize the VM-2000 Ventilator. The VM-2000 is an easy-to-use, feature rich, low-cost device that will redefine the ventilator space by making ventilators available where current devices are too complex, too expensive, or too cumbersome.
The financing round was led by GHO Ventures, (“GHO”), a Princeton based fund focused on investing in promising companies with disruptive technologies, managed by renowned research scientist and entrepreneur Dr. Gregory H. Olsen. As a technology innovator, Dr. Olsen used his engineering insight to start several successful companies including Sensors Unlimited, a near-infrared camera manufacturer. After selling Sensors Unlimited, Dr. Olsen in 2005 became the third private citizen to orbit earth on the International Space Station (ISS).
Ventis was founded to develop medical equipment optimized for critical care during emergency situations including pandemics, bioterrorism and other mass casualty events. Karen Laub, President and Co-Founder, stated, “We could not have asked for a better partner than Greg to achieve our shared vision of saving lives through this improved and cost-effective technology.”
“Our goal is to simplify the response during crisis situations, where fast and reliable care can make the difference in saving a life,” said Dr. Glenn W. Laub, Co-Founder and CEO, Ventis Medical. “Our team is working to bring a fully-featured critical care ventilator to market that can help our healthcare system better handle resource constraints rather than resorting to stopgap measures. This funding can expand access to high quality respiratory support particularly in areas where existing technology is unavailable, expensive, or ill suited.”
“Dr. Laub and his team have demonstrated a unique combination of vision, technical depth, and grit that has resulted in the successful development of a device that has the potential to reshape the ventilator industry. I am excited to partner with their team in order to bring this life-saving product to market,” said Dr. Greg Olsen, CEO & President of GHO.
Funds will be used to accelerate Research and Development, support regulatory submissions, and to bring the product to market. Ventis has recently selected NJ-Based medical device contract manufacturer ADM Tronics to build the device and plans to bring the product to market within the next year.