Berkshire Biomedical Raises $3 Million in First Third Party-Financing

DALLAS, Jan. 28, 2021 /PRNewswire/ -- Berkshire Biomedical, LLC ("Berkshire" or "the Company"), a privately-held digital health company developing a revolutionary virtual care and prescription drug management system only for the Intended User, today announced that the Company has completed a $3 million fund raise with accredited investors, which represents the first third-party investment for the Company. 

Berkshire Biomedical's main product is the Computerized Oral Prescription Administration (COPA®) system, which is currently under review with the U.S. Food and Drug Administration for market clearance.

"We welcome this new infusion of financing from our first third-party investors as it strengthens our balance sheet, validates the significant market opportunity for the COPA® system and provides support for early commercialization initiatives as we await regulatory clearance from the U.S. Food and Drug Administration (FDA), which is expected in the third quarter of 2021," stated Thomas M. Rouse, Founder and Chairman of Berkshire Biomedical.  "In preparation for FDA market clearance, we are currently working to identify and execute partnerships with one or more strategic partners within the coming year.  Our goal is to establish collaborations with strategic partners and top-tier investors who want to embrace critical virtual care and digital therapeutics solutions in the accelerating evolution of healthcare ecosystems."

About the Computerized Oral Prescription Administration (COPA™) System
The COPA™ System was designed as a virtual care and prescription drug delivery system that is pioneering the use of biometric authentication at the point-of-care in a hand-held, mobile-enabled device that receives actionable dosing parameters and transmits real-time event data to a HIPAA compliant cloud platform for storage and potential analytics.

The COPA System is intended for use as an aid to medical providers in virtually managing therapeutic regimens for patients in the home or clinic. The system provides a means for the patient's prescribed medications to be stored in a delivery unit; for a medical provider to remotely schedule the patient's prescribed medications; to provide notification to the patient when the prescribed medications are due to be taken; to release the prescribed medications into the mouthpiece, on the patient's command; and to provide to the medical provider a history of the event.

The COPA System's patented technology provides precise, timely and consistent dosage of prescribed, liquid, oral drug regimens.  It features enabled, dual biometric controls including fingerprint and dentition recognition to confirm the Intended User before dispensing the prescription drug, which enhances safety, security, and drug adherence.  The COPA System integrates cellular technology for real-time usage data collection, which allows physicians to monitor patient behavior and make dosage adjustments.  It is also enabled with a cloud-based data storage and analytics system that can be disseminated to authorized physicians, pharmacists, and caregivers to further support medical decisions.

About Berkshire Biomedical, LLC
Berkshire Biomedical, LLC is a privately held healthcare solutions provider focused on impacting lives by leveraging technology to improve medical outcomes and enhance patient wellness.  The Company's lead product under development, the (COPA™) System, is designed to address the intersection of two significant needs in the healthcare delivery system: virtual care delivery using technology combined with data and medication self-administration and adherence. 

Founded and funded by a team of experienced financial and medical technology executives, Berkshire Biomedical intends to seek broad opportunities in medical markets, drug applications, and businesses that manage the commercialization and data analytics of the device in order to maximize the COPA System's impact within the virtual care and medical technology sectors.

Additional information about Berkshire Biomedical and the COPA System can be found at www.berkbiomed.com.

CONTACT:

Barry R. Dunn
Vice President – Corporate Development
Berkshire Biomedical, LLC
[email protected]

Anne Marie Fields
Managing Director
Rx Communications Group, LLC
[email protected]  

SOURCE Berkshire Biomedical, LLC

Related Links

https://www.berkshirebiomedical.com

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