Astarte Medical Secures $5 Million in Series A Financing
Company’s NICUtrition suite of digital tools and diagnostics is designed to standardize feeding, optimize nutrition and quantify gut health in premature infants
YARDLEY, Pa., May 7, 2019 – Astarte Medical, the only precision medicine company using software and predictive analytics to improve premature infant outcomes, today announced it has secured $5 million in Series A financing. Investors in the round include Viking Global Investors LP, Lunsford Capital, OCA Ventures, Keiretsu Forum MidAtlantic, Keiretsu Capital Fund, Ben Franklin Technology Partners, Wing VC and Next Act Fund. The Company, which recently graduated from the Illumina Accelerator, will use the funds to complete the development of its NICUtrition® suite of digital tools and diagnostics, which support feeding protocols, practice and decision-making in the neonatal ICU (NICU). Duane Morris LLP, as legal counsel to Astarte Medical, advised the company on the transaction.
Every year, more than 380,000 babies are born prematurely in the United States. The first 1,000 days of life are a critical period for a baby’s growth and brain development – particularly for preterm infants – and maintaining a healthy gut is crucial during this time. The rapid changes in the microbiome during this period make it challenging for NICU teams to treat infants with a highly personalized level of care.
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