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TempTraq developer secures $40 million in funding

The 72-hour wearable patch has been clinically proven to accurately detect fevers much earlier than is currently achievable.

20th April 2022

Innovation in Textiles
 |  Westlake, OH, USA

Medical/Hygiene

Blue Spark Technologies, based in Westlake, Ohio, has raised a a $40 million intellectual property-based debt solution to fund the growth of its TempTraq wearable remote patient monitoring solution.

Patented TempTraq is billed as the only continuous, disposable, real-time body temperature monitoring patch that provides healthcare providers with a way to monitor patients for fever spikes for up to 72 hours.

The comfortable, disposable patch is an FDA Cleared Class II medical device that significantly improves the way temperature is measured in the clinical environment, providing clinicians with a quicker, easier and more effective way to continuously measure temperature in both inpatient and out-patient settings.

“Hospitals are seeking to improve patient care, reduce re-admissions, optimise reimbursements and gain competitive advantage,” said Blue Spark president and CEO John Gannon. “TempTraq has been clinically proven to accurately detect fevers much earlier than the current standard of care.”

The funding has been led by Ghost Tree Partners with support from Aon.

“Blue Spark has leading-edge technology backed by clinical research and results,” said Mark Fox, managing partner at Ghost Tree Partners. “We are excited to support the company’s next phase of growth and accelerate its innovative patient monitoring solutions to healthcare and life-sciences providers worldwide.”

“IP-rich, technology-driven companies like Blue Spark unlock value so they can further pursue their growth ambitions without diluting their ownership,” added said Lewis Lee, CEO, IP Solutions at Aon.

Cancer study

Carevive Systems, a Boston-based oncology-focused health technology company, also plans to integrate its expertise in Patient Reported Outcomes (ePROs) with TempTraq to investigate how early fever detection can guide clinical decision-making for adult oncology patients who are at increased risk of infection. The study will be conducted across three sites with the potential to add more locations, as needed.

According to the Centers for Disease Control and Prevention (CDC), people with cancer who are treated with chemotherapy are more likely to develop infections. Cancer and chemotherapy can reduce the effectiveness of the immune system by reducing the number of infection-fighting white blood cells. Often the first sign of infection is an increase in body temperature, or fever.

Patients in the study will report their symptoms through Carevive’s PROmpt system while wearing TempTraq.

“Electronic patient-reported outcomes data is crucial for proactive symptom management,” said April Boyd, senior clinical content developer at Carevive. “Helping patients live more comfortably, and for longer, while studying them together provides us with an important resource for improving patient-centered care. We’re really excited by the potential outcomes of this study to help countless more cancer patients.”

www.bluesparktechnologies.com

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