Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

RxFunction raises $7.5 million for its wearable sensory prosthesis

April 4, 2018 By Chris Newmarker

RxFunction Walkasins

[Image courtesy of RxFunction]

Medical wearable startup RxFunction (Eden Prairie, Minn.) announced today that it has raised $7.5 million in Series A funding as it prepares for market launch of its Walkasins wearable sensory prosthesis.

The round, which surpassed RxFunction’s initial $5 million funding goal, was led by Edina, Minn.–based Cedar Point Capital, a boutique investment banking firm.

The money will help RxFunding through FDA registration, funding the next clinical trial in the U.S., and building the organization so that it is ready for commercialization.

“This funding will support us as we enter the U.S. market and move the company into its next phase,” said RxFunction CEO Tom Morizio.

Walkasins have two components – a leg unit and a foot pad. The insoles measure the user’s foot pressure and give immediate gentle and tactile sensory cues so that they can control balance and stability, according to the company.

The wearable is meant to approve the physical ability and quality of life of people with peripheral neuropathy, a peripheral nervous system condition characterized by motor nerve damage, sensory nerve damage and autonomic nerve damage. About 20 million people in the U.S. suffer from some form of peripheral neuropathy, according to the National Institute of Neurological Disorders and Stroke.

Lars Oddsson co-invented and developed the patented technology while he was a research professor at Boston University’s Neuromuscular Research Center. He founded RxFunction with Dan Leach in 2010.

“At the time we were able to demonstrate the concept in a lab environment,” Oddsson says. “Today’s miniaturization of electronics, sensors, improved batteries and faster processors has allowed us to design and build a medical grade wearable device that can help patients on a daily basis.”

You may also like:

  • walkasins device
    RxFunction device helps diabetics walk again
  • medtech fundraising
    2 paths to success on the medtech fundraising trail

Related Articles Read More >

Dexcom One
How Dexcom’s portfolio goes beyond highly-anticipated next-gen G7
An illustration of a cloud-shaped room filled with medical devices
The cloud is transforming medtech: Amazon, Microsoft, Google, J&J, Philips and GE Healthcare leaders explain
Caretaker Medical VitalStream
FDA clears four new parameters for Caretaker Medical’s wireless patient monitoring system
A roll of medical tape
3M launches 21-day adhesive skin tape for medical devices

DeviceTalks Weekly.

May 13, 2022
Our Pre-Post-DeviceTalks Boston episode, also MedtronicTalks replay with Gastro CMO Austin Chiang
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech