Belgian Scale-up Oncomfort Raises €10 Million in Series A Funding Co-led by Debiopharm and Crédit Mutuel Innovation to Further Develop Its Digital SedationTM Through Virtual Reality
BRUSSELS and LAUSANNE, Switzerland and PARIS, Sept. 9, 2020 /PRNewswire/ -- Oncomfort, the Belgian inventor of and leader in Digital SedationTM - a method for relieving patients' pain and anxiety without medication - today announces the completion of a €10 million Series A funding round co-led by two prominent institutional investors: Debiopharm and Crédit Mutuel Innovation. Oncomfort plans to use this investment to develop its innovative digital therapy solutions and accelerate its international expansion.
Major investment to support Oncomfort's roadmap
Oncomfort has raised no less than €10 million in a Series A funding round. It plans to use this investment to develop its Digital SedationTM solution and accelerate its international expansion on the European and American markets. The investment round was realized with two leading institutional investors: the Swiss Debiopharm, and the French Crédit Mutuel Innovation (CMI). The investment includes continuing support from Wallonia Innovation and Growth (W.IN.G) and the existing investors. Both institutional investors will join Oncomfort's newly composed Board of Directors.
"We are at a tipping point in our digital therapy," says Mario Huyghe, CEO of Oncomfort. "The medical community has discovered the advantages and potential of Digital SedationTM to relieve pain and anxiety without medication. Virtual Reality acts as an enabler for this digital therapy. Yet, Oncomfort's true potential comes from the scientific evidence of its digital sedation and the multidisciplinary co-creation with the expertise of anesthesiologists, neurologists, psychologists, and hypnotherapists. With this Series A funding, we will accelerate our product development with a broader engineering team and invest in the international expansion of Oncomfort."
Medical efficacy and optimization of the patient's journey
"Our investment in Oncomfort's digital sedation solution is based on the strong potential of digital therapeutics as well as the specific intellectual property and scientific evidence that Oncomfort has built over recent years," continued Karine Lignel, CEO of Crédit Mutuel Innovation.
"With this investment in Oncomfort, we want to push the boundaries to inspire healthcare stakeholders to acknowledge that there is much more we can do for patients through digital technology," said Tanja Dowe, CEO of Debiopharm Innovation Fund.
"We were convinced, on the one hand, by the scientific results and the technological developments already achieved by Oncomfort, that will enable an even more personalized patient care thanks to the upcoming new features of the SedakitTM , and on the other hand by the high level of the team and its partners. With this long-term investment, we are committed to supporting Oncomfort's team to unleash its potential in the European and American market," explained Delphine Cardi, Director of Participations, and Tanguy Besson, Associate at Crédit Mutuel Innovation.
"Having supported Oncomfort since 2017, W.IN.G is delighted to see it gather substantial funding and will continue to invest in its development, which it regards as promising. By supporting this start-up from the outset, W.IN.G also wanted to assist the emergence of a disruptive technology to relieve the pain of patients in the healthcare sector," concluded Colin Loyens, Investment Manager.
For more information, please visit www.oncomfort.com.
Leslie Buyle for Oncomfort
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Tanguy Besson, Associate
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