Sensimed AG completes €20m financing round
23 July 2013
Swiss company Sensimed AG has announced the completion of its
Series C financing round for a total of CHF25m (€20m). An initial
closing of CHF17m (€13.7m) of this round led by current investors
Wellington Partners, Agate Medical Investments and Vinci
Capital/Renaissance PME was done last October, and the remaining
CHF8m (€6.5m)has been subscribed by Vertex Venture Management, a top
tier investor based in Singapore.
AG has developed a non-invasive soft contact lens-based system (they
call it a contact lens solution, although it is not a liquid, but is
a contact lens with an electronic circuit and strain gauges
embedded: see image on the right), the Sensimed Triggerfish
that revolutionizes glaucoma management by providing continuous
24-hour intraocular pressure-related profiles as well as modelling
and analysis of patterns.
The 24-hour profiles, centralised on a registry together with
patient and treatment information, are processed by powerful
modelling and learning algorithms identifying pathological patterns
that can be used to differentiate indication, to personalize
treatment, and to predict risk of progression or of conversion to
glaucoma in at risk populations.
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 early diagnosis and management of patients with
potentially progressive glaucomatous disease.
"We're happy to support Sensimed in bringing to market a
technology that will shift the paradigm in glaucoma disease
management. Our firm's focus has been to invest in and build global
leaders in specific sectors. We see Sensimed as being one of them."
Chua Kee Lock, Group CEO, Vertex Venture.
Says Dr Lincoln Chee, Vertex Healthcare Venture Partner: "We are
excited to be involved with Sensimed's technology and device that
will contribute significantly to better understanding and management
of glaucoma. The SENSIMED Triggerfish® is the only device that can
monitor continuous pressure-related intraocular profiles and we look
forward to bringing this to clinical practice."
"Sensimed is proud to have completed this round with such a
strong partner." says Sensimed CEO Jean-Marc Wismer. "Besides being
a strong shareholder, Vertex will also significantly contribute to
the development of our activities in Asia, a region with the fastest
growing incidence of glaucoma".