MEDFORD, Mass.--(BUSINESS WIRE)--Seventh Sense Biosystems, Inc. (7SBio), the makers of TAP™, the world’s
first push-button blood collection device, announced a $10M round of
Series C funding today. Participating in the financing are existing
investors Novartis ($ADR), one of the world’s leading pharmaceutical
companies, Laboratory Corporation of America® Holdings (LabCorp®) ($LH),
the world’s leading healthcare diagnostics company, Polaris Partners and
Flagship Ventures. The company will use the funding to develop new
products and to expand production capacity.
TAP can eliminate the need for a tourniquet, large needles, lancets,
tubes, and bandages, making the blood collection process more efficient
for many tests. The device is positioned on a patient’s upper arm and
with just a ‘tap’ blood is collected. The company aims to create a new
standard for blood collection that can help to increase patient
compliance with testing orders, leading to faster diagnoses and better
outcomes. Future versions of TAP will be designed to enable the patient
to collect their own blood anywhere and anytime.
“We’re bolstered by the confidence our investors and board have in
Seventh Sense and excited for patients to finally have a truly better
blood collection option,” said Howard Weisman, CEO. "Our momentum
continues to grow and we believe TAP will become the trusted brand for
innovation in blood collection.”
To further strengthen the company’s focus on commercialization and
product development, Seventh Sense also announced that it has added
Stuart Blitz as its Chief Business Officer. Prior to joining Seventh
Sense, Stuart was the first employee at AgaMatrix, a blood glucose
monitoring company that made the world’s first medical device connecting
directly to the iPhone. He helped grow the company from a startup to one
with over 15 FDA-cleared products and 750 employees, forging
partnerships with Apple ($AAPL), Sanofi ($SNY), CVS ($CVS), and Target
In addition, the company also announced that Marc Ceulemans, Novartis
Head Strategic Venture Capital & Pharma Equities, and Don Hardison,
former CEO of Good Start Genetics, have joined its Board of Directors.
TAP is currently under FDA 510(k) review and not yet for sale. For
up-to-date information on products and availability, go to www.7sbio.com.
About Seventh Sense
Seventh Sense Biosystems has designed and developed TAP™, the world’s
first push-button blood collection device. It makes the process simple,
convenient, and virtually painless. $50 billion is spent annually on
diagnostics and consumers are demanding more from the healthcare system.
The company aims to create a new standard for blood collection that
increases patient compliance with testing orders, leading to faster
diagnoses and better outcomes. Future versions of TAP will be designed
to enable patients to collect their own blood anywhere. Seventh Sense is
funded by Flagship Ventures and Polaris Partners, as well as corporate
partners Novartis, LabCorp, and Siemens. For more information: www.7sbio.com.