FAIRFIELD, Conn. (September 26, 2019)—Convexity Scientific, a medical technology company, announced this week the initial closing of a $3.5 million Series B financing. The round was led by HighCape Capital with participation from Connecticut Innovations, Benslie International, and Stonehenge Capital. The financing will help support commercial growth of the Convexity’s core product Flyp Nebulizer and adjacent innovations.
There are more than 50 million people in the United States suffering from asthma and chronic obstructive pulmonary disease (COPD), with acute exacerbations of COPD resulting in nearly 1.5 million emergency room visits each year. Designed with the end user in mind, Convexity Scientific’s Flyp is a pocket-portable nebulizer that was cleared by the FDA in 2017 and is designed to simplify the management of chronic respiratory conditions like asthma and COPD. Coined “The Nebulizer Reinvented,” Convexity aims to reshape and improve the entire user experience with Flyp.
“We’re mission-focused on ‘Empowering Healthier Lives.’ We take a user-centric design approach to create products and experiences that challenge the conventional upper limit of user satisfaction in respiratory care,” said Geoff Matous, president of Convexity Scientific “The Series B is an important milestone for the company and we’re fortunate to have great partners at the table.”
An updated version of Flyp will launch at the Medtrade home medical equipment expo in Atlanta on Oct. 21. Consumers can purchase directly from the company website at flypnebulizer.com and through medical equipment providers nationwide, including CVS HealthHUBs in select markets.
“The Flyp pocket-portable nebulizer can be used to effectively treat a range of lung-related conditions, including asthma, COPD and other common lung diseases,” said Ralph Finger, MD; founder and chief medical officer of Convexity Scientific. “We started with a goal to help improve the life of one patient. Now, thousands use and benefit from Flyp Nebulizer daily. It’s really amazing.”
Today, inhalers are generally used for managing daily respiratory symptoms, with nebulizers prescribed for long-term airway management. Flyp is designed to bridge the current gap between inhalers and nebulizers with a convenient and effective alternative to preventing and managing flare ups. Flyp Nebulizer delivers medication through fast virtually silent treatments, deep into the lungs where it is most effective.
“We are excited to partner with the Convexity team as they build on their initial success in marketing Flyp Nebulizer directly to consumers, focusing on an integrated approach to their well-being,” said Kevin Rakin, incoming Convexity chairman and partner at HighCape Capital. “We view Flyp as the first in a class of next-generation consumer oriented medical devices.”
Convexity Scientific’s Series B financing will also support the company’s latest product development innovations, an increase in commercial reach for the Flyp Nebulizer this fall, and an expansion of the current Convexity Scientific team.
“Along with product development and expanded commercial capabilities, the resources will help us attract and hire talent,” said Matous. “Our presence in Connecticut provides a key advantage in the recruitment of qualified personnel because of the strong and growing medtech and digital health ecosystem.”
Visit flypnebulizer.com for more information.