Gasgon Medical reportedly hopes to raise more than $4.3 million (€4 million) to support its technology for fast, accurate IV delivery.
The Cork, Ireland-based medtech startup already has commitments from returning lead investors, according to The Business Post. Founded in 2018, Gasgon develops a medical device that assists healthcare providers in IV (intravenous) administration delivery.
The company designed its AirVault device to capture air bubbles during IV delivery. The novel, closed-system air trap safely and proactively removes air in IV lines. This helps clinicians and patients avoid alarms, maintenance and delays in care.
According to The Business Post, Vincent Forde, founder and CEO of Gasgon, expects to close the funding quickly. The executive expects the funds to support Gasgon Medical’s planned U.S. commercial launch for AirVault. He says the company already engaged leading hospitals in advanced discussions over that rollout, according to the report. Forde says the company already spent time in the U.S. testing the product over the last year as well, the report said.
Gasgon picked up €2.25 million in seed funding nearly two years ago in April 2022. The company completed testing and development for the device but it remains investigational in the U.S. According to The Business Post, Forde says the company is just about to submit an application for AirVault’s approval to the FDA.
