Airway Innovations LLC will enter the market this spring with a new technology to prevent patients from taking out tracheal tubes thanks to a $75,000 investment from an East Lansing-based early-stage investment fund. The investment comes as part of a $450,000 growth capital round that Grand Rapids-based Airway Innovations is seeking from investors. Quantum Medical Concepts was established seven years ago by the Michigan State Medical Society to promote medical innovation. The capital round’s first investor was Quantum Medical Concepts.
VanMiddendorp, who first conceived of the TubeTrac as a graduate engineering student at Grand Valley State University, said the company recently completed the Conquer Accelerator entrepreneurship program in Grand Rapids. TubeTrac was launched in a small number of pre-selected clinical sites last fall by Airway Innovations, which was established in 2016.
Following product input from test trials, the company revised the concept and is now on track for a complete commercial launch early next month, according to VanMiddendorp. Airway Innovations LLC was able to make the design improvements with the help of funding from Quantum Medical Concepts. According to VanMiddendorp, the company has a few health systems waiting to check out the TubeTrac, as well as “many more” who will review the device with their medical staff, which will lead to test trials and possibly sales.