Wisconsin-Based Retham Technologies Raises $1.5M in Seed Funding

The round also saw participation from Golden Angels Investors and Milwaukee Venture Partners.

The company plans to use the funding to advance HITDx through clinical validation, FDA 510(k) clearance activities, and commercial readiness.

What is Retham Technologies?

Retham Technologies develops diagnostic solutions for platelet-related conditions. Its lead product, HITDx, is a functional diagnostic assay designed to provide rapid and accurate testing for heparin-induced thrombocytopenia (HIT).

HIT is a potentially life-threatening immune reaction to heparin that can cause dangerous blood clots even when a patient's platelet count is falling.

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HITDx uses Retham's proprietary Cryoplatelet™ technology, which eliminates the need to source fresh donor platelets for functional testing. This is designed to make gold-standard HIT testing more accessible to hospital and clinical laboratories.

The Cryoplatelet technology also has potential applications in other platelet-based testing and blood research.

How Much Funding Has Retham Technologies Raised?

Retham Technologies has raised $1.5 million in its latest Seed funding round.

The round was led by Talents Fund, with participation from Golden Angels Investors and Milwaukee Venture Partners.

No previous funding details were provided.

Who Invested in Retham Technologies’ Seed Round?

The Seed round was led by Talents Fund.

Participating investors included:

• Golden Angels Investors
• Milwaukee Venture Partners

Why the Funding Matters

Retham Technologies plans to use the new funding to advance HITDx through clinical validation, FDA 510(k) clearance activities, and commercial readiness.

The company aims to address limitations in current HIT testing, including false-positive results from commonly used immunoassays and the long turnaround times associated with functional testing.

Who founded Retham Technologies?

Retham Technologies was founded by Dr. Anand Padmanabhan and Curtis Jones.

Dr. Padmanabhan serves as Chief Medical Officer, while Jones is Vice President of Research and Innovation. The company's proprietary cryopreserved platelet technology incorporates core intellectual property exclusively licensed from Mayo Clinic.

The company is based in Wauwatosa, Wisconsin, in the Milwaukee area.

Market and Business Growth

Retham's lead product, HITDx, is being developed as a functional diagnostic assay for HIT.

Its Cryoplatelet technology is designed to remove the logistical challenges of using fresh donor platelets in functional testing. The technology could also support other platelet-based testing and blood research applications.

What Happens Next?

Retham Technologies will focus on clinical validation, FDA 510(k) clearance activities, and commercial readiness for HITDx.

The company will also continue developing its cryopreserved platelet technology for potential applications beyond its lead diagnostic program.

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