Atlanta-based medical startup Huxley Medical raised $7.2 million in funding, according to a June 7 filing with the U.S. Securities and Exchange Commission.
The funding round is still open, with a goal of $8.1 million.
Huxley Medical aims to “bring clinical-grade care to any person anywhere," according to the company’s LinkedIn page.
The company has received about $1.5 million in funding from the National Institutes of Health and the National Science Foundation since 2020 to develop wearable patches that can detect and monitor conditions such as sleep apnea and heart failure.
The company has also raised money from the GRA Venture Fund, the Duke Angel Network, and the Georgia Research Alliance, according to PitchBook. In total, the company has raised $15 million in a combination of debt, equity and other funds, according to previous SEC filings.
Huxley Medical co-founder Brennan Torstrick declined comment.
Venture capital funds are continuing to raise money for health care investment but putting less of it into startups than in past years, keeping some funds in reserve, the Wall Street Journal recently reported. Huxley Medical appears to have bucked that trend.
Huxley’s headquarters are listed on Northside Drive, near Georgia Tech and Atlantic Station. The company has 18 employees, according to PitchBook.
President and CEO Chris Lee, earned a PhD from the Emory and Georgia Tech joint department in biomedical engineering. Prior to founding Huxley, Lee founded Vertera, which makes spinal implants. Vertera was acquired by NuVasive in 2017.
Lee started both companies with Georgia Tech professors. Lee also founded a nonprofit, the Woodbridge Foundation, to help support researchers who want to translate their discoveries into medical technology companies.
Torstick, who is also president of product and market strategy at the company, holds a PhD in mechanical engineering from Georgia Tech.
