Rockville,MD April 23, 2020 – SECO, a leading company in the hi-tech sector, specializing in computer miniaturization, backed by FII Tech Growth managed by Fondo Italiano d’Investimento SGR, today announced a partnership with IBD, an innovative Italian company operating in the biomedical market, for the development of Respira, a new non-invasive pulmonary ventilator created in response to the current health emergency of the COVID-19 pandemic. Respira was developed by a team of Italian doctors with direct and extensive experience on the front lines of the pandemic.
SECO’s technological capabilities in combination with IBD’s knowledge and competencies in the medical sector, have brought Respira to life. Respira is a compact and portable high-flux, pulmonary ventilator for patients with COVID-19-related pneumonia in both domestic and hospital environments. The new ventilators, which bypass the need for invasive intubation, are equipped with touchscreen displays for easy and intuitive use.
“It gives me great pride that in such difficult times two Italian industry leaders like SECO and IBD have brought together their technological competencies to provide a tangible contribution to the healthcare system and its patients, through an innovative, non-invasive and portable solution for pulmonary ventilation,” said Massimo Mauri, Chief Executive Officer for SECO.
Established in 2014, IBD designs and develops biomedical devices with the goal of innovating on portability, user-friendliness for healthcare personnel and patients, for both domestic and hospital applications. Following the concepts of “Less is More” and Lean Startup, IBD has developed, in a timely fashion and with limited resources, extremely innovative biomedical devices,” said Dr. Corrado Ghidini, Managing Director of IBD. “As Italy has always been a leader in the biomedical field, and the partnership with SECO provides the perfect complement for the realization of an industrial plan that can contribute in relaunching Italy on a global scale.”
In addition to ventilating patients affected by COVID-19 without intubation, Respira can also be used in immunodepression cases as well as those that require oxygenation in both pre-and post-intensive care. Designed in Italy and manufactured in the USA, the new pulmonary ventilators are expected to start deliveries between late May and early June 2020.
Assisted pulmonary ventilation is considered by most to be the only effective therapy for those patients affected by COVID-19-related respiratory deficiency. The innovative ventilators developed by SECO and IBD will contribute in increasing the availability of these fundamental medical devices, currently only available in limited amounts, at very high prices and exclusively used by intubated patients in ICUs.
SECO is an Italian group with a leading global position in the sector of embedded technology and Internet of Things (IoT). Since 1979, it has been designing and producing embedded systems – industrial computers that are integrated into a client’s machine or tool, activating its functions and permitting interaction through touch/video interfaces. SECO collaborates with a broad network of strategic suppliers in the international high-tech panorama (including Intel®, AMD, NXP, NVIDIA®, Wind, and Telenor), as well as with universities, research centers and innovative start-ups, and operates on a global scale with offices in Italy, Germany, the U.S., India and Taiwan, employing more than 380 people. The industrial sectors in which SECO products are utilized range from biomedicine to wellness, industrial automation to transportation, and it has clients that are market leaders, such as Cimbali, Esaote, Evoca, and Technogym. www.seco.com
About FII Tech Growth
FII Tech Growth, with a fundraising target of €150 million, is the first Italian late-stage technology investment equity fund. It is managed by Fondo Italiano d’Investimento SGR and is dedicated to invest in the growth of small and medium-sized Italian companies with high-tech business models. The fund announced its first closing in September 2017 with Cassa Depositi e Prestiti as cornerstone investor. Fondo Italiano d’Investimento SGR currently manages a total of eight investment funds, dedicated to institutional investors, for a total of about Euro 3 billion of Assets Under Management. www.fondoitaliano.it
IBD is a biomedical devices manufacturer company conceived in London and founded in Italy in 2014. Guided by a team with +10 years of experience in dialysis and medical device design, IBD has raised so far over € 1 million in funding by angel investors and grants. It is now facing a new round of funding. www.ibdbiomed.com
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