Iowa City-based LSF Medical Solutions, LLC is among a handful of early-stage companies receiving state funding support from the Iowa Economic Development Authority (IEDA) Board, following approvals granted May 16.
The health technology startup is developing a handheld medical device, Pneumero, designed to help patients with chronic lung disease monitor their lung function remotely in coordination with physicians. The device captures multiple metrics to support faster and more informed treatment decisions, with the goal of reducing hospitalizations.
The IEDA Board awarded LSF Medical Solutions a $50,000 Proof of Commercial Relevance (POCR) loan. The funding will support intellectual property development and evaluation, product refinement, and market planning and entry activities. The award recommendation came via the board’s Technology Commercialization Committee.
LSF was one of four Iowa startups to receive POCR funding this month. Other awardees include Koos Medical Innovations, LLC in Ankeny, Terraform Tillage, LLC in Eldora, and BioAxis, LLC in Indianola, each receiving $50,000.
In total, the IEDA Board approved awards for six projects, including business expansions in Boone County and Fort Madison that are expected to create 60 jobs and generate $14.6 million in capital investment. A Community Attraction and Tourism (CAT) grant of $422,000 was also awarded to the Muscatine County Fair and Community Foundation of Greater Muscatine to support construction of the new Muscatine County Event Center in West Liberty.
