AWAK Technologies raises $20 million for a portable dialysis machine

AWAK Technologies, a manufacturer specializing in kidney dialysis apparatus designed for mobility, has secured $20 million in series B funding, marking a significant milestone for the Singapore-based company and representing the largest MedTech funding venture in the country this year.

Key points about the funding round:

• The series B financing round involved prominent investors, including Lion X Ventures and Vickers Venture Partners, with additional support from Advanced MedTech and Eckuity Capital.
• This funding round follows a previous round that raised $40 million at the end of 2019, bringing AWAK’s total venture capital funding to over $80 million.

This capital infusion will play a crucial role in supporting AWAK’s pre-pivotal trial, which began at Singapore General Hospital in June. It will also facilitate further technological advancements based on ongoing research findings. Upon the successful completion of these milestones, AWAK plans to initiate a pivotal trial in the United States in 2025, a significant step towards obtaining FDA authorization.

AWAK’s innovative technology facilitates peritoneal dialysis treatments, a daily necessity that utilizes a patient’s peritoneum for blood purification. This involves delivering dialysis fluid into the abdominal region through a surgically placed catheter. This approach differs from traditional hemodialysis, which typically requires three to five weekly sessions involving the external extraction, purification, and reintegration of the patient’s blood.

AWAK PD Machine Features

Portability:

• Fits into a compact shoulder bag.
• Enables dialysis treatment in various locations.

Mobile Application Integration:

• Allows users to control the device through a mobile app.
• Automatically shares treatment details with healthcare providers for remote monitoring.
• Compact Design:
• Requires minimal daily dialysis fluid volume.
• Offers substantial fluid reduction compared to other systems.

The emergence of the COVID-19 pandemic shed light on the strain experienced by healthcare providers, underscoring the necessity to complement their capabilities with home-based therapies and care. AWAK’s strategic positioning equips it to oversee kidney patients and facilitate their transition to in-home care settings, addressing this critical need within the healthcare landscape.

Furthermore, the AWAK PD device has garnered the coveted FDA breakthrough device designation, expediting the review process for any future regulatory submissions.