Sensimed AG Raises Nearly $18 Million in Series C Financing
Published: Nov 09, 2012
LAUSANNE, SWITZERLAND--(Marketwire - November 08, 2012) - Sensimed AG announced today the first closing of its Series C financing round co-led by Wellington Partners, Agate Medical Investments and Vinci Capital/Renaissance PME. The first closing at CHF 17m was completed by current shareholders, the Sandoz Family Foundation, ELM Development, and successful entrepreneurs in the medical devices industry.
FROM DEVICE TO KNOWLEDGE -- Sensimed AG, a Swiss company, has developed a non-invasive soft contact lens-based solution, the SENSIMED Triggerfish® that revolutionizes glaucoma management by providing continuous 24-hour intraocular pressure (IOP) profiles as well as modeling and analysis of IOP patterns. The 24-hour IOP profiles, centralized on a registry together with patient and treatment information, are processed by powerful modeling and learning algorithms identifying pathological patterns that can be used to differentiate indication and to personalize treatment. Sensimed is directly positioned at the convergence between devices, treatment and information. The company believes that this global knowledge-building approach will enable ophthalmologists to better improve management of patients with potentially progressive glaucomatous disease.
Funds will be used to finalize approval in the US and in China, to extend the commercialization currently restricted to leading centers in about twenty countries to a larger geography, to continue a wide-spectrum of post-marketing application trials, to implement and open the central registry to all users, and to fund on-going operations.
"This round of financing follows major breakthroughs in the understanding of 24-hour patterns which broaden significantly the commercial application of our technology," says Sensimed CEO Jean-Marc Wismer. "It will also enable us to bring those new findings to the market to help doctors better diagnose, discriminate and treat various glaucomatous indications".
Says Patrick Berdoz, Chairman of the Board: "We are happy to complement our shareholder base with investors having a strong track record in life science entrepreneurship and a very large network in the industry".
Further information about Sensimed AG is available on www.sensimed.ch
About Wellington Partners
Wellington Partners is among the most successful pan-European Venture Capital firms. With more than EUR 800 million under management and offices in Munich, London and Zurich, Wellington Partners invests in start-up companies throughout Europe that have the potential to become global leaders in the areas of digital media, resource efficiency and life sciences. Since 1998, Wellington Partners has invested in more than 100 companies, including publicly listed firms like Actelion, Evolva, Wavelight (acquired by Alcon) and Xing as well as privately held companies like AyoxxA, Grandis (acquired by Novartis), immatics, implanet, invendo medical, mtm laboratories (acquired by Roche), Oxagen, Oxford Immunotec, Quanta, Sapiens, Sensimed, Supersonic Imagine, Symetis and Spotify. For further information, please visit www.wellington-partners.com.
About Agate Medical Investments
Agate Medical investments LP is a group of funds, specialized in providing growth capital to mature Medtech companies. Agate, as one of Israel's leading healthcare investors, has established a leading position in the healthcare VC industry, resulting in quality deal-flow and investor partnerships. Since its formation in September 2007, Agate I has invested in 9 promising companies 8 of them are medical devices companies and one a healthcare services company. The fund is led by prominent and highly-experienced individuals with extensive medical investments knowledge and healthcare industry track record. The fund was founded by Dani Naveh, formerly Israel's Minister of Health and Cabinet Secretary and managed by Michel Habib, formerly Israel's Economic Consul in Boston and head of investment banking Israel for ING Bank. For more details on Agate please visit www.agate-invest.com.
About Vinci Capital/Renaissance PME
Vinci Capital is an independent Swiss private-equity firm whose mission is the financing and development of Swiss-based technology companies. Vinci Capital has an exclusive mandate to manage the funds of Renaissance PME and Mona Lisa AG. Renaissance PME is a foundation dedicated to Swiss pension funds to provide them with a fiscally optimized and regulated vehicle for direct private-equity investments. Mona Lisa AG is an investment holding funded by Swisscom dedicated to financing innovative Swiss SMEs with high growth potential. For further information please visit www.renaissance-pme.ch and www.vincicapital.ch
Sensimed raises Serie C financing: http://hugin.info/142388/R/1656181/535389.pdf
Contact details :
Tel: +41/21 621.9191