AWAK Technologies is building a technology that makes dialysis machines more affordable, mobile and maybe even battery powered
AWAK Technologies, a medtech company with a presence in both Singapore and the US, announced today it has raised US$11.2 million to help people with late-stage kidney disease.
The lead investor was Singapore’s Accuron MedTech, a branch of the engineering and technology firm Accuron Technologies Limited.
The money will be used to bring to commercialisation an AWAK product that aims to improve dialysis treatment for patients.
The product is called ‘sorbent-based regeneration technology’ and is designed to use a significantly smaller amount of ultra-pure water (6 litres vs. 120 litres) and regenerate used dialysate into a fresh mixture.
The reason this is a game changing technology is because it eliminates the need for expensive water purification systems — allowing hospitals in poor countries to own a legitimate dialysis product and offer patients a viable treatment option.
In the long-term, AWAK is also working to build battery-operated dialysis machines, which would dramatically improve mobility and could be used in emergency situations or to access remote rural villages.
“We plan to use the investment led by Accuron MedTech to accelerate our research and development activities towards fruition of our products by 2018. We look forward to working with Accuron MedTech to bring these consumables to market,” said AWAK Technologies Chairman, Dr. Gordon Ku in a statement.
Also Read: Sixscape gets US$1.4M to protect your email, chats and file transfer apps from cyber attacks
In the past three years, Accuron Medtech had made six investments or divestments prior to today’s announcement of the AWAK deal.
Accuron Medtech has a few subsidiaries under its umbrella — Dornier MedTech is a urology company, Veredus Labs is focussed on microarrays (microscopic DNA spots) and Advanced Materials Technologies is a medical manufacturing company.
The company also pursues an acquisition strategy so it can spread beyond Singapore and compete on a global scale.
AWAK was founded in 2007 and has major offices in Singapore and Burbank, California (Los Angeles area).
Also Read: Taiwan’s Appier raises fresh funds, brings total Series B round to US$42.5 million
Today’s investment was made via the MedTech Alliance, a SPRING SEEDS Capital accelerator that targets the medtech sector.
Other shareholders in AWAK are Baxter Healthcare SA and TP Innovation Holdings Pte Ltd.
—
The post Singaporean medtech company is trying to disrupt dialysis, lands US$11.2M funding appeared first on e27.