Neopenda, a Chicago-based public benefit corporation, is now raising funds in an equity crowdfunding campaign.
The campaign in partnership with Republic is to enable expansion of clinical pilots into additional regions and bring awareness to their work.
The funds raised will be used in expanding clinical trials into new regions.
“By raising funds on Republic, we have the opportunity to closely involve supporters at home in Neopenda’s growth as well,” CEO Sona Shah said.
Kendrick Nguyen, CEO of Republic, also indicated that his outfit is pleased to host this open investment opportunity in Neopenda and provide Neopenda with an alternative way of raising capital for their work.
The campaign which is being held online at https://republic.co/neopenda will run from now until the end of 2018, with the possibility of closing earlier if it overfunds.
Neopenda through its campaign aims to raise a minimum of $25,000 with sights on higher levels that will enable them grow faster.
Founded by Columbia University alumni biomedical engineers Sona Shah and Teresa Cauvel, Neopenda is currently developing a medical device geared toward underserved markets in Sub-Saharan Africa.
The device, a wireless wearable vital sign monitor, measures pulse rate, respiratory rate, peripheral blood oxygen saturation, and temperature of critically ill newborns being cared for in hospitals in low-resource areas.
The device enables healthcare providers in overcrowded and understaffed hospital wards to provide more timely and effective care to at-risk newborns.
In what started as a classroom project, in the last three years, the Neopenda team has worked tirelessly to develop and bring to market needs-based, context appropriate medical devices in emerging markets.
In the last few months, Neopenda has added team members in Uganda, begun the CE Marking process and been invited to the Techstars Chicago Class of 2018.
For more information about Neopenda and how to invest interested persons can visit https://republic.co/neopenda.
Neopenda is innovating needs-based medical technology for the massive untapped opportunity in emerging markets.
Neopenda creates end-to-end solutions that enable high quality patient care and nuanced data insights for stakeholders.
The first product is wireless wearable neonatal vital signs monitor designed for resource-constrained health facilities.
The affordable system enables more responsive and appropriate care for critically ill newborns, and ultimately helps reduce preventable newborn mortality.