WINNIPEG, MANITOBA – October 18, 2013 –Arterial Stiffness Inc, (ASI) is a Winnipeg-based medical device company commercializing products to measure vascular health. The device uses a finger clip that produces pulse contour waveforms. ASI applies proprietary technology to interpret the waveforms. ASI’s proprietary technology is being developed to calculates a person’s vascular age compared to their birth age, and also detects arrhythmias. An advantage of the ASI system is this information can be gathered at a fraction the cost of current methods. ASI is in the Manitoba Technology Accelerator program.
Based on strong results from an equivalency trial comparing the ASI device results against FDA cleared devices, ASI is announcing closure on a $200,000 private investment deal with the Manitoba Knights, a Winnipeg-based group of Angels and Super Angels. “Our group (the Manitoba Knights) is attracted to these Manitoba-based technology start-ups that hold great promise for improved health, good returns to investors, and for the economic growth of our community” reports David Asper.
“This is a rewarding day for our company” remarked Michael Zhang, scientific founder of ASI. “After four years of invention and development, we now have a device that compares well against FDA cleared devices and interest from the marketplace. The financial backing that we received today will help us to complete formal clinical trials and gain traction in the US market”.
Harry Ethans, Co-founder and Deal Validator of the Manitoba Knights is optimistic on the possibilities for the company. “Through the Manitoba Technology Accelerator process, we have been watching ASI progress over the past 18 months. When they reached the criteria we have for investment there was great enthusiasm from our group to get involved. We look forward to seeing ASI through this round of financing and future rounds as the company grows”.
Marshall Ring, CEO of the Manitoba Technology Accelerator observed that “ASI is emerging as an example that technology start-ups in Manitoba can find investment success and sell product to international customers. We think this is another world-class, global company starting right here in Winnipeg. We are proud of the direct, hand’s on role we played in helping establish the base of technology products, customers and investors this company can grow from”.
To schedule interviews, or for more information, please contact:
Marshall Ring. CEO, Manitoba Technology Accelerator.
mring@mbtechaccelerator.com
204-272-2403