MY01, Inc., a medical technology company that uses microsensors to help doctors diagnose compartment syndrome, announced today that it has raised a $12.5 million USD Series A funding round. Investissement Quebec is leading the round, with Desjardins Capital and Fondaction also participating. The money will be used to boost commercialization efforts in the United States.
“This investment will help MY01 achieve its goal of becoming the gold standard in compartment syndrome diagnosis, said Charles Allan, Chief Executive Officer of MY01. “Since our launch in the United States, we have seen significant growth, and this funding will allow us to accelerate our development while improving patient outcomes.
The MY01’s Continuous Compartmental Pressure Monitor aids in the diagnosis of compartment syndrome, a medical condition in which pressure builds up inside a muscle, causing blood flow to be restricted and pain to be felt. If the pressure builds up significantly and is not relieved, compartment syndrome can result in amputation.
The MY01 CCPM incorporates a microsensor into the compartment and transmits continuous pressure data to a monitor as well as a mobile app.
MY01, Inc. is on a mission to provide healthcare professionals with the ability to predict severe medical conditions and thus improve patient outcomes.
MY01 believes that incorporating actionable quantitative data at the bedside can supplement clinical assessments, reduce physician disruption, and facilitate more efficient care collaboration, all of which leads to more effective patient care.
MY01, Inc., headquartered in Montreal, Quebec, since 2015, uses its expertise in microsensor technology to provide innovative diagnostic solutions.
The mission of Investissement Québec is to actively participate in the economic development of Quebec by encouraging business innovation, entrepreneurship, and takeover, as well as increased investment and exports.
The Company, which is present in all administrative regions of Quebec, supports the creation and development of businesses of all sizes through investments and tailored financial solutions.
Investissement Québec also provides a variety of consulting services, including technological assistance provided by Investissement Québec – CRIQ. Furthermore, Investissement Québec International assists Québec companies with their export projects while also ensuring the prospecting of talent and foreign investment in Québec.