Individuals with chronic kidney disease or those susceptible to heart failure are significantly impacted by imbalances in potassium levels within the body, which can pose serious, even life-threatening risks. While continuous glucose monitoring is well-established and has greatly improved the quality of life for diabetes sufferers, potassium monitoring remains an emerging field due to its complexity. However, innovative startups are now beginning to tackle this critical issue.
Based in Canada, Proton Intelligence is pioneering a product for continuous potassium monitoring. The company has recently completed a seed funding round, raising $6.95 million, with investment leadership from SOSV. Clinical trials are currently in progress, and the product is set for launch in 2025.
Proton is working on a compact device that can be implanted just under the skin to monitor potassium levels continuously. This device will link to a smartphone application, enabling patients to track their potassium levels and receive alerts when their levels fall outside a safe range, influenced by dietary or medicinal factors.
Additionally, a clinician dashboard will display a patient’s potassium trends, allowing healthcare teams to adjust treatments based on real-time data.
The company was co-founded by CEO Sahan Ranamukhaarachchi from Vancouver, Canada, and CSO Victor Cadarso based in Melbourne.
The duo launched the startup after spending a decade researching wearable biosensors in Switzerland. Ranamukhaarachchi later established a skin-based drug delivery firm (Microdermics), while Cadarso took on an academic role in micro- and nano-sensors at Monash University in Melbourne. Proton operates from its commercial headquarters in Canada and a wholly owned research and development subsidiary in Melbourne, Australia.
In an interview with StartupSuperb, Ranamukhaarachchi revealed that the team conducted over 100 detailed interviews with healthcare teams to refine their product concept. “These discussions revealed the severe consequences of inadequate potassium management,” he explained. “Delays in monitoring can lead to avoidable hospital admissions, discontinuation of treatments, or even sudden cardiac incidents.”
He highlighted how patients expressed a persistent anxiety regarding potassium fluctuations, worrying whether consuming a single banana or skipping a blood test could jeopardise their health or even endanger their lives.
The issue is significant, with approximately 10% of the global population affected by chronic kidney disease, leading to numerous fatalities annually due to lack of affordable treatment options.
Proton faces competition from various emerging companies in the sector.
AliveCor indirectly estimates potassium levels through cardiac activity monitoring (having raised $154.3 million to date). Alio focuses on potassium monitoring specifically for dialysis patients (having secured $46 million). Meanwhile, Renalyse, based in Spain, measures potassium using finger-prick blood samples (having obtained €1 million). Many other companies are also present in this space.
Nonetheless, the founders of Proton assert that their solution is more scalable, stating, “No other technology presently delivers this combination of usability, precision, and clinical relevance,” remarked Ranamukhaarachchi.
In a statement, Mohan S. Iyer, general partner at SOSV, expressed pride in being Proton Intelligence’s first institutional investor, stating, “We are eager to continue our support as they embark on the clinical validation process.”
The seed funding round also attracted investment from We Venture Capital, Tenmile, LongeVC, 15th Rock, Exor, and Trampoline Venture Partners.