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PuraCath Medical

A platform of smart, ultraviolet (UV) light devices that helps reduce hospital acquired infections (HAIs)

PuraCath Medical is accepting investments for an Offering under Regulation D through SI Securities, LLC ("SI Securities"). SI Securities is an affiliate of SeedInvest Technology, LLC, a registered broker-dealer, and member FINRA/SIPC. SI Securities will receive cash compensation equal to 7.50% of the value of the securities sold and equity compensation equal to 5.00% of the number of securities sold. The contents of the Highlights, Term Sheet sections have been prepared by SI Securities, LLC (“SI Securities”) and shall be deemed broker-dealer communications subject to FINRA Rule 2210 (the “Excluded Sections”). With the exception of the Excluded Sections noted above, this profile contains offering materials prepared solely by PuraCath Medical without the assistance of SI Securities, and not subject to FINRA Rule 2210 (the “Issuer Profile”). The Issuer Profile may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. These statements reflect management’s current views with respect to future events based on information currently available and are subject to risks and uncertainties that could cause the company’s actual results to differ materially. Investors are cautioned not to place undue reliance on these forward-looking statements as they are meant for illustrative purposes and they do not represent guarantees of future results, levels of activity, performance, or achievements, all of which cannot be made. Moreover, no person nor any other person or entity assumes responsibility for the accuracy and completeness of forward-looking statements, and is under no duty to update any such statements to conform them to actual results.


Company Highlights

  • FDA 510(k) clearance granted for the Firefly Peritoneal Dialysis device
  • IP portfolio covering systems, methods, and devices includes 3 issued patents and multiple additional pending patents
  • Awarded up to $4.6MM in non-dilutive financing from NSF, DoD, and NIH (dependent on successful progress)
  • Validated results for 99.99% reduction in microorganisms with 1 second of UV light in outside laboratories
  • Founder is a Stanford Bioengineering alum and Stanford’s StartX Fund is an investor

Fundraise Highlights

  • Total Amount Raised: US $471,002
  • Total Round Size: US $6,000,000
  • Raise Description:  Series A
  • Minimum Investment:  US $10,000 per investor
  • Security Type:  Preferred Equity
  • Pre-Money valuation :  US $20,000,000

PuraCath is a revolutionary, leading platform of smart, ultraviolet (UV) light devices that utilize digital health data to help drastically reduce hospital acquired infections (HAIs).


PuraCath is targeting the $19 Billion hospital acquired infection (HAI) industry. HAIs result from airborne and touch contamination of various catheters including vascular access, urinary, respiratory, and others. Currently, nurses have to manually scrub the hub of catheters for 15 seconds-2 minutes with alcohol or use expensive, disposable alcohol caps that have to stay on for 60 seconds. Compliance rates to current disinfection protocols is lower than 10%.

PuraCath has a platform of proprietary, smart, ultraviolet (UV) light devices that is able to get 99.99% disinfection on microorganisms that cause hospital acquired infections in less than 1 second of UV. This data has been validated in outside third party laboratories and published. PuraCath is also able to extract electronic health record (EHR) data and merge with its own data on disinfection time points in order to give hospitals a depiction of where they can enhance their staffing protocols and improve compliance. 

PuraCath intends to monetize on the above, FireflyTM, product by having an internal sales force of 35-40 individuals and working with Group Purchasing Organizations, like Premier, to sell to the appropriate call points in hospitals nationwide. PuraCath has worked on its business plan extensively with veterans in the field.

PuraCath already has 1 FDA 510(k) clearance on a peritoneal dialysis UV device that is undergoing Chinese FDA clearance and will be commercialized overseas in the coming year. PuraCath's HAI device for hospitals is expected to receive FDA 510(k) clearance by the end of 2020. PuraCath has been published in the top AARP journal that is distributed to over 50 million seniors and has raised over $4.6MM in competitive non-dilutive financing from the National Science Foundation, National Institute of Health, and Department of Defense.

The Team

Founders and Officers

Ms. Rasooly started PuraCath out of her PhD program in bioengineering at Stanford University, and in the BioDesign program.   She has over 18 years of experience in R&D in medtech and biotech. Ms. Rasooly is an inventor on 23 patents, and an author on over 20 publications and speaking arrangements.  She has won multiple awards and honors including the Howard Hughes Medical Institute Medical Scholarship, National Ford Foundation Pre-Doctoral Fellowship, the National Coca-Cola Scholarship, and multiple NSF, NIH, and DOD SBIR Phase I and II grants. 

Julia Rasooly

CEO

Ms. Rasooly started PuraCath out of her PhD program in bioengineering at Stanford University, and in the BioDesign program.   She has over 18 years of experience in R&D in medtech and biotech. Ms. Rasooly is an inventor on 23 patents, and an author on over 20 publications and speaking arrangements.  She has won multiple awards and honors including the Howard Hughes Medical Institute Medical Scholarship, National Ford Foundation Pre-Doctoral Fellowship, the National Coca-Cola Scholarship, and multiple NSF, NIH, and DOD SBIR Phase I and II grants. 

Key Team Members

Michael Fourkas

CTO

Don Canal

VP of Quality and Regulatory

Ben Zadik

CFO

Notable Advisors & Investors

Rich Ferrari

Investor, Advisor and Board Member

Mike Troy

Investor, Geekdom Fund GP

Gregory Schears

Investor, VP of Medical Affairs

Investor Perks

For those who reserved shares and converted those shares into an investment by 11:59pm PST on Friday, March 20th, you will receive the following reservation period perks:

$10,000 – PuraCath t-shirt and mug.

$25,000 – Above plus quarterly investor updates.

$100,000 – Above plus participation in regularly scheduled bi-annual call with PuraCath senior management.

$250,000 – Above plus arranged, paid airfare (domestic or domestic equivalent airfare towards international) to a PuraCath location for in-person investor tour and a one-time lunch or dinner with management. Also includes invitation to annual updates (dinners, calls, etc.) with the PuraCath senior management team.

It is advised that you consult a tax professional to fully understand any potential tax implications of receiving investor perks before making an investment.

Frequently Asked Questions

Making an Investment in PuraCath Medical
How does investing work?

When you complete your investment on SeedInvest, your money will be transferred to an escrow account where an independent escrow agent will watch over your investment until it is accepted by PuraCath Medical. Once PuraCath Medical accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to PuraCath Medical in exchange for your securities. At that point, you will be a proud owner in PuraCath Medical.


What is the difference between preferred equity and a convertible note?

Preferred equity is usually issued to outside investors and carries rights and conditions that are different from that of common stock. For example, preferred equity may include rights that prevent or minimize the effects of dilution or grants special privileges in situations when the company is sold.

A convertible note is a unique form of debt that converts into equity, usually in conjunction with a future financing round. The investor effectively loans money to a startup with the expectation that they will receive equity in the company in the future at a discounted price per share when the company raises its next round of financing.

To learn more about startup investment types check out “How to Choose a Startup Investment” in our academy.


What will I need to complete my investment?

To make an investment, you will need the following information readily available:

  1. Personal information such as your current address and phone number
  2. Employment and employer information
  3. Net worth and income information
  4. Social Security Number or passport
  5. ABA bank routing number and checking account number (typically found on a personal check or bank statement)

Because PuraCath Medical is offering its securities under Rule 506(c) of Regulation D, your status as an Accredited Investor will also need to be verified and you will be asked to provide documentation supporting your income, net worth, revenue, or net assets or a letter from a qualified advisor such as a Registered Investment Advisor, Registered Broker Dealer, Lawyer, or CPA.


What if I change my mind about investing?

Until a closing occurs, you may cancel your investment at any time, for any reason. You will receive an email when the closing occurs and your securities have been issued. If you have already funded your investment and your funds are in escrow, your funds will be promptly refunded to you upon cancellation. To cancel your investment, please go to your portfolio page by clicking your profile icon in the top right corner.


After My Investment
How can I sell my securities in the future?

Currently there is no market or liquidity for these securities. Right now PuraCath Medical does not plan to list these securities on a national exchange or another secondary market. At some point PuraCath Medical may choose to do so, but until then you should plan to hold your investment for a significant period of time before a “liquidation event” occurs. A “liquidation event” is when PuraCath Medical either lists their securities on an exchange, is acquired, or goes bankrupt.


How do I keep track of this investment?

You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.


Other General Questions
What is this page about?

This is PuraCath Medical's fundraising profile page, where you can find information that may be helpful for you to make an investment decision in their company. The information on this page includes the company overview, team bios, and the risks and disclosures related to this investment opportunity.


What are the risks of this investment?

This investment is highly speculative and should not be made by anyone who cannot afford to risk the entire investment amount. In addition to these risks, you should carefully consider the specific information and risks disclosed in PuraCath Medical’s profile.