Vitara Biomedical, a company developing technology to transform neonatal care, has secured $50 million in Series B funding. The round was led by Sands Capital with participation from Google Ventures (GV), First Spark Ventures, Flerie and Khosla Ventures.
The Philadelphia-based company, which emerged from research at Children’s Hospital of Philadelphia (CHOP), is developing a life support system that mimics the womb environment to support premature babies’ organ development. Studies with fetal lambs have shown the system can support both mid-and late-term gestation for 10 to 28 days without harm, while enabling continued organ system development.
The funding comes at a critical time, with approximately 15 million babies born preterm annually worldwide – a global rate of about 11%. In the United States alone, the economic burden of preterm births is estimated at $26 billion. Current neonatal care can lead to significant complications due to iatrogenic injury and developmental immaturity in extremely premature infants.
Alongside the funding announcement, Vitara appointed Kim Rodriguez as Chief Executive Officer. Rodriguez brings 25 years of healthcare and medical device industry experience, including leadership roles in women’s health. She previously served as CEO of BrainCheck and Acessa Health (acquired by Hologic).
“It is a great privilege to join the Vitara team and to have the opportunity to work alongside the talented and passionate professionals who are developing technology I believe has the potential to save and improve lives of a vulnerable population in dire need of innovation,” said Rodriguez. “The strong backing of our investors, and the invaluable resources they bring, are essential to achieving the key milestones in the ongoing evolution of our groundbreaking neonatal technology.”
“As one of the most active investors in women’s health, GV has had the privilege of supporting companies going after ambitious, complex problems in healthcare with the potential to revolutionize the current standard of care,” said GV Executive Venture Partner and Vitara Board Observer Cathy Friedman. “Vitara stands out with its innovative approach to neonatal intensive care delivery, built on a decade of foundational research. The Board is confident in Kim Rodriguez’s vision to lead Vitara through the next stage of development, and we’re excited about the potential to drive a transformative shift for newborns and families.”
The new funding will support Vitara’s preparation for first-in-human clinical trials of their technology.
