A Cyprus-based company, NnBU holdings, announced Monday it intends to raise EUR 15 million in an initial coin offering (ICO) to fund the development of a blockchain-linked medical device and medical records system. The device is a neonatal birth unit designed to improve health outcomes for babies born by Caesarean section, “C-section.”
The medical technology used in the device, now in concept phase, is patented, according to NnBU’s press release announcing the ICO. Funds will go toward development and marketing to hospitals and clinics internationally. The release did not specify which countries or regions NnBU intends to target first for regulatory approval and distribution.
The NnBU device is designed to simulate natural birth. It is designed to massage the torso of a newborn delivered by C-section, which simulates “natural stresses,” and focus light on the newborn’s fontanel. This is designed to set a comfortable waking process C-section babies, who are typically born asleep, according to the NnBU release.
The NnBU announcement touts a partnership with the Stuttgart, Germany-based Fraunhofer Institute of Manufacturing, Engineering and Automation.
Blockchain technology incorporated in the NnBU baby care unit includes: a system to ensure only qualified medical staffers with training are able to operate the device; a security feature to permit only qualified medical personnel to perform maintenance on it; and a medical records component that tracks treatment received by each patient, with use of that data subject to parental permission and local laws.
According to NnBU, 40 million C-section deliveries occur worldwide, annually, and the number is growing at an “extraordinary” pace, according to the release. The release cites figures from the Organization for Economic Cooperation and Development (OECD) with average C-section rate in the 35 OECD member countries at 19.8 percen in 2000, rising to 27.9 percent in 2015.
The release cites a University of Edinburgh study finding babies delivered by C-section are at 59 percent higher risk of obesity under the age of five, and 21 percent higher risk of asthma before they reach the age of 12.
NnBU’s token presale is set to start Monday, March 19 and run for six days, with a crowdsale set for March 26 to April 25. The NnBU token is a passive income token entitling holders to a share of revenue from NnBU Holdings Limited. The issuers say token holders are expected to receive 12.5 percent of NnBU sales, annually, if the target 15 million EUR fundraise is achieved. Issuers say they will offer all participants a legal contract enforceable in a court of law in addition to a smart contract. The minimum contribution will be 1 ETH.
For more information: https://nnbu.io.
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