University of Texas at San Antonio spinout Invictus Medical produces a medical device to prevent flat-head syndrome in newborn babies.
Invictus Medical, a US-based medical device maker spun out of University of Texas at San Antonio, is in the process of securing a $4.5m series B round from as-yet unnamed investors, Silicon Hills reported on Monday.
Founded in 2011, Invictus has developed a soft helmet-like device, dubbed GelShield, that prevents cranial deformities in newborn babies, by relieving pressure on their heads without the need for nurses in neonatal units to rearrange pillows every few
The series B round follows GelShield’s regulatory approval by the US Food and Drug Administration in May 2015. The company is also seeking regulatory approval in the Canada in the short-term, and in Europe in the long-term.
According to regulatory filings, Invictus raised a $3.8m series A round in December 2014 as well as $480,000 in debt financing in 2013.
Jackie Michel, director of technology transfer and commercialization at the university, said: “This turned out to be one invention that makes my heart happy because it fulfils the mission of the university which is to disseminate knowledge for the benefit of society. It is a remarkable story.”
