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.
Sensimed 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".