SonarMed, Inc., headquartered in Indianapolis, Ind., was founded in 2005 to develop and commercialize technology licensed from Purdue University intended to improve the placement and monitoring of breathing tubes used during medical procedures. SonarMed successfully developed its first product, the SonarMed Airway Monitoring System (AMS), which received the Food and Drug Administration 510(k) clearance in April 2010. SonarMed describes their AMS as a patented system which utilizes the principles of acoustic reflectometry to provide direct, precise and real-time monitoring of breathing tube positions and obstructions which may reduce the likelihood of a potentially dangerous or fatal complication occurring during intubation. SonarMed's product development and growth has been funded by private investments and grants from public agencies.
Ice Miller has represented SonarMed since 2007 on a variety of matters ranging from venture capital financing and other financing arrangements, health care and regulatory issues, intellectual property issues, and general corporate matters. Ice Miller recently assisted SonarMed in securing equity financing from a syndicate of venture capital and angel investors and negotiating key terms regarding grants received from public agencies. Ice Miller also assisted SonarMed in securing intellectual property protection for the SonarMed AMS.
As SonarMed launches its initial product in the marketplace and continues to grow, Ice Miller looks forward to assisting the organization with additional rounds of fundraising and other issues that emerging growth companies confront as they move out of the start-up phase and into commercialization.