Amsterdam, 10 February 2006. Eyesense AG, a new spin-out company from Ciba Vision AG developing novel ophthalmic self-diagnostic systems for glucose monitoring of diabetes patients, announced today the closing of a CHF 10.7 million (EUR 6.5 million) Series A venture capital financing round.
The first round of venture capital investment was led by Life Sciences Partners and BioMedinvest. Other investors include Novartis Venture Fund, Private Life BioMed, Alstertor Private Life and several private investors. Eyesense will use the funds from this financing to continue the development of its glucose monitoring hand-held device and perform expanded human clinical trials.
“We are very excited to have achieved this important financial milestone which will enable us to accelerate the development of this novel, revolutionary technology for measuring glucose levels of diabetic patients in a fast, accurate and unlimited way. This glucose-monitoring device will address the long-standing unmet need in the diabetics community for painless and blood-free glucose testing systems” said Dr. Peter Herbrechtsmeier, CEO of Eyesense.
As part of the investment Mark Wegter, General Partner of Life Sciences Partners, will join the company’s board of directors, together with Dr. Gerhard Ries of BioMedinvest, Dr. Peter Herbrechtsmeier and Luzi von Bidder, former head of Novartis Ophthalmics, who will chair the board.
Eyesense has developed a highly innovative product concept that has the potential to provide significant benefits to people with diabetes. We are very impressed not only by the technology which will eliminate the multiple daily painful blood sampling for glucose measurement but also by the strong intellectual property position and the quality of Eyesense s founder team, said Mark Wegter.
About Eyesense AG
EyeSense AG is a venture-backed diagnostic device company based in Basel and operations close to Frankfurt a. Main, Germany. Eyesense was founded in 2006 as a spin-out from Ciba Vision AG (a Novartis company) and develops ophthalmic diagnostic systems focusing on glucose testing for diabetic patients. In addition to glucose, the testing platform being developed by Eyesense has the potential to measure a broad variety of medical-relevant analytes in patients. See www.eyesense.com for more details.
About Life Sciences Partners
Based in Amsterdam and Munich, LSP has successfully invested in the human life sciences for over 15 years. Since inception, LSP s management has invested in 41 life science companies, of which 18 have successfully completed their IPO or merged with leading companies in the industry. Specific examples include Crucell, KuDOS, Jerini, Qiagen, Rhein Biotech (now Berna Biotech), and Pharming. With a strong management team and an extensive scientific and financial network, LSP currently has EUR 250 million in capital under management. By carefully balancing risks, adding value as a lead investor and taking board responsibility in its portfolio companies, LSP has established itself among the leading life science investors in Europe. See www.lspvc.com for more details.
Contact Info: LSP Life Sciences Partners: Martijn Kleijwegt Managing Partner Tel: + 31 (0) 20 664 5500
