Eccrine Systems Raises $1.5 Million In Seed Funding

Funds will accelerate development of advanced sweat sensors

CINCINNATI--(BUSINESS WIRE)--Eccrine Systems, Inc., announced today that it has raised $1.5MM in seed funding. Investors include CincyTech Fund III, management, and other sources within the CincyTech local, regional and national investor community. Formed in late 2013, the advanced sweat sensor company is developing disposable electronic patch systems based on innovative research and intellectual property that originated from the University of Cincinnati and Air Force Research Labs at Wright Patterson Air Force Base.

“The convergence of these and other technologies will launch sweat into full prominence as the best non-invasive fluid source for secure, real-time monitoring of human physiological function or dysfunction. We foresee many high value applications for our Sweatronics™ platform across medicine, industry and sport.”

According to Dr. Jason Heikenfeld, lead UC researcher and co-founder of the company, sweat secreted from eccrine glands in human skin holds great promise as the best non-invasive bodily fluid for the real-time capture and transmission of robust biomarker data. “Although the analysis of sweat goes back to the 1950s, it never gained significant momentum as a non-invasive alternative to blood due to the limitations of fluid collection. One might as well draw a blood sample rather than scoop sweat off the skin repeatedly to get enough of a sample before sending to a lab for testing.” Fast forward to the current era of microfluidics, nanotechnology, miniaturized electronics, continuous connectivity and cloud-based computing. Heikenfeld continues, “The convergence of these and other technologies will launch sweat into full prominence as the best non-invasive fluid source for secure, real-time monitoring of human physiological function or dysfunction. We foresee many high value applications for our Sweatronics™ platform across medicine, industry and sport.”

Robert Beech, Eccrine’s executive chairman and co-founder, echoes Heikenfeld’s outlook and provides further insight about the strategic positioning of the company, “We recognize there are many well-known companies vying for the attention of broad consumer markets for wearable devices, which often intersect with fashion trends and personal image choices. In direct contrast, our efforts are aimed at specialized and regulated medical and business markets that expect proof of data accuracy and chronological assurance, plus credible scientific studies related to physiological and economic outcomes. Furthermore, our low profile electronic patches are being designed for placement on discreet skin locations that do not interfere with work, play, sleep, or personal image preferences.”

The company is deploying a platform business model that seeks exclusive relationships with downstream partners across multiple market segments. Explains Beech, “There are very large opportunities in areas such as medication adherence, clinical trials management, industrial safety, medical diagnostics, treatment effectiveness, nutrition support, and elite performance optimization. The secure, real-time monitoring of sweat biomarkers in these segments offers the potential for valuable breakthroughs in improved safety, effectiveness, and economic outcomes. We bring to each partnership our pioneering IP portfolio, modular Sweatronics platform, and innovative prototyping capabilities. In turn, our market-savvy partners collaborate closely with us to develop and embed Sweatronics patch systems within their respective product offerings.”

“The implications for real-time trending and interpretation of sweat biomarkers, derived from very tiny amounts of sweat captured under a small electronic patch, are profound,” states Mike Venerable, Managing Director at CincyTech. “The Eccrine team is very focused on enabling this important technology opportunity and its positive impact on many aspects of life.”

About Eccrine Systems, Inc.

Eccrine Systems is a privately held company dedicated to improving human health, safety, and productivity through the innovation and development of advanced sweat sensor technologies. The Cincinnati-based company was founded in 2013 to commercialize technology and intellectual property that was exclusively licensed from the University of Cincinnati, and with the funding support of CincyTech and its expanding community of local, regional and national investment sources. Please learn more at www.eccrinesystems.com.

About CincyTech

CincyTech is a public-private seed-stage investor whose mission is to be a trusted partner in helping to transform ideas into high potential technology companies in Southwest Ohio. Please learn more at www.cincytechusa.com.

Trademarks

Eccrine Systems, Sweatronics, and the company logo image are trademarks of Eccrine Systems, Inc. Other names may be trademarks of their respective owners.

Safe Harbor Statement

Some of the statements made in this press release are forward-looking statements about Eccrine Systems, Inc. These forward-looking statements are based upon the company's current expectations and projections about future events and generally relate to the company’s plans, objectives and expectations for the development of its business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.