- Completed a multi-site clinical study at UCSF, John Muir Health, Bryan Heart, & Penn State Health that demonstrated a statistically significant correlation between the Respirix signal and the CardioMEMS implant.
- Investors include Portola Valley based Synergy Ventures and Signatures Capital.
- Technology was developed by Dr. Daniel Burnett, the founder of San Francisco based incubator TheraNova.
- Awarded an SBIR Phase I grant in 2016 for $309,000 of non-dilutive monies in a competitive process from the National Heart Lung and Blood Institute of the NIH (pre-spin-out).
- Advisors hold medical degrees from Stanford University, University of California San Francisco, Johns Hopkins University and the University of Virginia.
- Total Amount Raised: US $1,281,303
- Total Round Size: US $1,500,000
- Seed :
- Minimum Investment: US $5,000 per investor
- : Convertible Note
- US $10,000,000 :
Congestive Heart Failure (CHF) is a health crisis affecting 26 million people worldwide. The annual global burden caused by heart failure is estimated at well over $100 billion. In the U.S. alone, about a million patients per year show up the emergency room for CHF related complications that end up costing the healthcare system over $32 billion, a number that is forecasted to more than double to $70 billion by 2030.
It has been demonstrated that a large number of these costly and traumatic hospitalizations could be avoided by intelligently changing medication therapy when a patient is worsening. Unfortunately, one of the few FDA approved solutions to direct medication changes is an implant that gets placed inside the heart, costing upwards to $18,000 before procedure expenses.
Respirix has been developing the Cardiospire: a portable, handheld device for noninvasive monitoring of CHF patients that aims to deliver the clinical need for a low-cost, accurate, and non-invasive CHF management solution. The Cardiospire predicts CHF patient deterioration from breath, by mining a very subtle pressure wave caused by right ventricular function. Our patented approach has demonstrated significant potential in clinical and preclinical studies. In fact we have already demonstrated a statistically significant correlation between the Respirix signal and the signal produced by an expensive implant in 14 CHF patients observed over a year.
Our mission at Respirix is to improve the lives of millions of patients worldwide, and save the healthcare system billions of dollars. We believe that the Cardiospire will become a breakthrough for remote CHF patient management, and are hard at work to demonstrate that our proprietary approach can guide medication changes to materially reduce CHF related hospitalizations.
Respirix is building a platform to monitor and manage cardiac and pulmonary health. Our product uses hardware, specifically a device that we have named the Cardiospire, to acquire physiological signals from a user non-invasively and transmit these readings to the cloud. Respirix uses proprietary methods to interpret this data for insights about the patient's condition, with the goal of ultimately directing a change in therapy or treatment to protect patient health and prevent costly and injurious adverse outcomes.
To date, Respirix clinical and preclinical research has been focused on bringing a novel solution to market for managing patients with congestive heart failure (CHF). CHF is a condition in which the ventricles of the heart are unable to effectively pump blood through the body; it currently affects over 26 million people globally and costs over $100 billion per year, a number that is forecasted to grow by nearly 50% by 2030.
The vast majority of people suffering from CHF are guided to manage their condition by obtaining daily weight measurements and alerting their physicians if weights rise quickly, with the objective of allowing care changes to prevent worsening symptoms including swelling, shortness of breath, and fatigue (decompensation). Unfortunately, this approach that has not been proven to reduce hospitalizations from decompensation.
Since 2014, one of the only FDA approved devices for CHF management has been the CardioMEMS implant, a technology owned by Abbott that costs about $18,000 and requires a catheter lab procedure to place the sensor inside of a patient's heart, for life, and a bulky wireless charger to obtain daily readings. Difficulty obtaining reimbursement from Centers for Medicare and Medicaid Services, and patient reluctance to undergo a procedure, have hindered CardioMEMS adoption.
Respirix believes our approach will usher a groundbreaking new solution to accurately monitor CHF patients' status and allow their physicians to guide medication changes to reduce costly and devastating hospitalizations due to acute decompensation episodes. Because our technology relies on commodity hardware sensors, we believe will be able to deliver a product that can cost-effectively manage the world's CHF patient population.
In the U.S., our primary customer will be healthcare providers and payors, stakeholders that have a significant interest in reducing the cost of care. Hospitals have an incentive to prevent CHF patient hospitalizations because CMS currently penalizes them for CHF patient readmissions within a 30-day window, a penalty range that is expected to grow to include 90-day readmissions.
We expect commercialization of the Respirix Cardiospire for the CHF indication will take place after a multi-hundred patient, outcomes-based longitudinal study demonstrating that therapy guided by our algorithms reduces CHF related hospitalizations. The Respirix CHF solution will be an annual CHF monitoring solution, reimbursed by CMS and insurance.
Revenues will be generated through multiple pathways: 1) an upfront sale of our Cardiospire device as durable medical equipment 2) annual monitoring fees for the patient 3) sales of disposables such as mouthpieces and 4) monetization of our data repository of patient therapy and outcomes through pharmaceutical and other companies.
The CHF indication alone is a $32 billion per year addressable market in the U.S. for Respirix. Beyond this indication, our future pipeline includes a portfolio products that can address other chronic illnesses with unmet clinical needs such as chronic obstructive pulmonary disease and pulmonary hypertension, as well as approaches for monitoring and managing patients in critical care and hospital settings.
In 2015, Daniel Burnett and Evan Luxon were at the TheraNova incubator in San Francisco developing an unrelated technology for critical care monitoring. In a large animal study, Evan noticed that there was a very small pressure change being measured at the airway of the pig that had the same frequency as the EKG reading, but was shifted slightly in time phase.
Upon further investigation, Evan learned that this signal had been described in scientific literature as a cardiogenic oscillation, but was little researched. Evan surmised that this waveform might contain value for diagnostic applications, and Respirix was born.
In 2016, when Respirix was formally spun-out of TheraNova as a stand-alone company, Dan and Evan presented the concept to a handful of investors in the Bay Area. The first two investors in Respirix were Portola Valley based Synergy Ventures, and Eric Kriegstein who was working at San Francisco based Signatures Capital.
As Respirix development continued, Eric became good friends with Dan and Evan. Believing that Respirix was a company with the potential to revolutionize patient monitoring and management, Eric left Signatures Capital to work full time on Respirix as the company’s first CEO in 2018.
Frequently Asked Questions
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 Respirix. Once Respirix accepts your investment, and certain regulatory procedures are completed, your money will be transferred from the escrow account to Respirix in exchange for your securities. At that point, you will be a proud owner in Respirix.
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.
To make an investment, you will need the following information readily available:
- Personal information such as your current address and phone number
- Employment and employer information
- Net worth and income information
- Social Security Number or passport
- ABA bank routing number and checking account number (typically found on a personal check or bank statement)
Because Respirix 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.
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.
Currently there is no market or liquidity for these securities. Right now Respirix does not plan to list these securities on a national exchange or another secondary market. At some point Respirix 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 Respirix either lists their securities on an exchange, is acquired, or goes bankrupt.
You can return to SeedInvest at any time to view your portfolio of investments and obtain a summary statement.
This is Respirix'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.
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 Respirix’s profile.