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Author Topic:   Company seeks financing for wearable artificial kidney
Gary Peterson
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posted 08-12-2003 06:30 AM     Click Here to See the Profile for Gary Peterson   Click Here to Email Gary Peterson     Edit/Delete Message   Reply w/Quote
November 15, 2004 - National Quality Care, Inc. announced it has developed a working prototype of a wearable artificial kidney designed to be powered by a battery and to operate continuously. The company is in the process of preparing an application to the FDA to initiate human clinical trials. Press release via PrimeZone.

August 12, 2003 - National Quality Care, Inc. has announced its intention to develop and ultimately make commercially available a portable, wearable artificial kidney for patients suffering from end stage renal disease. The company is seeking external funding in order to meet the high costs of developing the product for commercial release. Press release/Form 8-K via Yahoo (link no longer available).

The design of the device was initially conceptualized by Victor Gura, M.D., of National Quality Care, Inc., in September 2001. Shortly thereafter, in January 2002, the Company assembled a core scientific and engineering team, consisting of 3 engineers, a chemist and 2 physicians, and commenced the development and construction of the first prototypes. Some features of the device include:

  • a dialyzing filter
  • several battery operated pumps
  • disposable cartridges containing several chemicals
  • fully automated
  • water proof
  • operate continuously for 24 hours a day, 7 days a week
  • weigh approximately 5 pounds
  • worn by the patient as a belt
  • connected to the patient's blood stream though a surgically implanted catheter, specially designed for this purpose
  • operate from a small computer chip included in the device

Three patents applications relating to the device have been filed:
The Company has historically financed its research and development activities through working capital provided from dialysis facility operations. As disclosed in its Form 10-KSB for the year ended December 31, 2002, the Company generated a net loss of $758,400 during the year ended December 31, 2002 and, as of December 31, 2002, had an accumulated deficit of approximately $3,059,583. The Company experienced a loss from operations during the year ended December 31, 2002 of approximately $519,389. As a result, on January 1, 2003, the Company suspended its research and development activities due to a lack of funds.

[This message has been edited by Gary Peterson (edited 11-16-2004).]

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