Orpyx® Medical Technologies Secures $7.6M in Series A Funding
CALGARY, Canada, July 8, 2020 /PRNewswire/ - Orpyx (orpyx.com), an innovator in digital health therapeutics to prevent diabetic foot complications, today announced the close of a $7.6M Series A investment round. Paddock Capital Inc. led the investment round with participation from existing and new investors, including Aphelion Capital, Thin Air Labs, InterGen Capital, Relentless Venture Fund, ICM Asset Management, Anges Québec, Picante Capital Corp. and Viewpoint Group. The investment brings Orpyx’s total funding since inception of the company to $18.5M and will help the company expand its North American commercialization efforts as well as broaden and accelerate technology development. Cory Paddock, co-founder and Managing Director of Paddock Capital Inc, will join the Board of Directors.
The Series A financing builds on an exceptional year for Orpyx, which has included the launch of their flagship product line, Orpyx® SI Sensory Insoles, the only sensory insole with telemedicine capabilities that provides patients and their healthcare provider real-world feedback to help prevent diabetic foot and other neuropathy-related ulcers. The launch was preceded by the publication of a first-of-its-kind, randomized control trial that when compared to standard of care demonstrated up to an 86% reduction in DFU recurrence in people with a previous DFU and diabetic peripheral neuropathy, which often results in a lack of protective pain sensation.
About Orpyx Medical Technologies Inc.
Orpyx® Medical Technologies Inc. empowers people with diabetes to maintain mobility. The company's core product line, the Orpyx SI Sensory Insoles with remote patient monitoring, helps manage and prevent diabetic foot ulcers and limb loss through advanced foot sensor technology and real-time analytics. Orpyx technology is also used by researchers to access clinical-grade plantar pressure data for health and human performance applications in the fields of sports medicine, therapeutic applications, and footwear design.
About Paddock Capital Inc.
Paddock Capital Inc. is an investment firm founded and based in Calgary, Alberta. Its philosophy explores an Albertan future beyond combustion, where technology, sustainable economic growth, environmental stewardship, human physical and mental vitality, and educational opportunity are not a series of trade-offs, but necessary partners.