21 September 2010
Ysios Capital Partners leads €5million Series A Financing of Sabirmedical
Ysios Capital Partners leads € 5 Million
Series A Financing of Sabirmedical
– Sabirmedical is focused on the development of medical technologies for the diagnosis and monitoring of vital signs and medical information in patients with different pathologies.
– Ysios Capital Partners has led the investment in which “la Caixa” has also participated. This transaction is the biggest venture medtech investment in the past years in Spain.
– The proceeds of this round will be used for the development and launch of its lead product – a continuous non-invasive blood pressure device – and the development other devices such as a non-invasive glucometer.
BARCELONA 23th September 2010. Ysios Capital Partners today announces that it has led the Series A investment of Sabirmedical, company based in the Barcelona Science Park developing medical devices and sensor technologies. La Caixa, the largest Spanish savings bank, has joined the round as part of the syndicate through its venture capital arm Caixa Capital Risk.
Proceeds from the Series A will enable Sabirmedical to accelerate the development up to commercial launch of its most advanced product, a non invasive device for the continuous measurement of blood pressure, and other earlier stage pipeline products, including a noninvasive glucose monitoring device. The company foresees the potential commercialization of its first device by the beginning of 2012. The most advanced product is a high precision noninvasive device for the continuous monitoring of blood pressure. This system is both cuffless and does not require calibration. The technology embedded in a sensor has passed a proof of concept in critical care in more than 100 patients showing good reliability. This solution can be used in different hospital and healthcare settings, where continuous non-invasive cuffless blood pressure is required or preferred. The technologies developed by the company are based on artificial intelligence (machine learning) applied to biomedical sensors and enable the development of medical devices for their use in different hospital settings and multiple medical and homecare environments.
“We believe this Series A investment validates the tremendous progress Sabirmedical has made in the development of our platform technology and our lead program, and provide the necessary financial strength to reach the market in the next two years,” said Victor Garcia, Director of Operations and a co-founder of Sabirmedical
“Our focus is the development of sensors and devices based on innovative software in the area of Machine Learning. The medical information inference systems embedded in our products are applicable to multiple areas in the medical practice. The technological competencies of Sabirmedical to develop prediction systems have enabled us to develop different products and surmount proofs of concept for multiple patients in the area of hospital monitoring”, adds Vicent Ribas, Director of Technology and a co-founder of the company.
“Sabirmedical has attracted our attention early on because of their unique proprietary platform technology, a singular feature in medtech companies, with the potential to cover several unmet medical needs that has already generated significant interest from large medical device industry partners”, said Josep Lluís Sanfeliu, partner of Ysios Capital Partners.
About Ysios Capital Partners
Ysios Capital Partners is an independent venture capital firms in Spain providing private equity financing to early and mid-stage human healthcare and biotechnology companies with special focus on pharmaceuticals, diagnostics and medical devices. Ysios launched its first fund of € 69 million in 2008.
Ysios has a team of eight professionals with diverse backgrounds in life sciences and healthcare, venture capital, managing start-ups, and corporate finance. Ysios’ Partners are Joël Jean-Mairet, ex CEO of GLYCART Biotechnoloy AG; Julia Salaverria, ex Director of Funds in Talde and Josep Lluís Sanfeliu, ex Corporate Finance Business Development Manager at Almirall.
With this investment, Ysios has five portfolio companies: Cellerix (Cell therapy–Madrid), EndoSense (Medicaldevices–Geneva), BioVex (Oncology–Boston), Cardoz (Cardiology- Stockholm) and Sabirmedical (Medical Devices-Barcelona).