EIC FUND INVESTS IN SENSOCURE
Sensocure´s innovative micro sensor, the world´s first pCO2-sensor designed for the earliest possible detection of ischemia. (Photo credit: Sensocure)
Press release January 9th, 2025
The European Innovation Council Fund has invested 12 million NOK in the Norwegian medical-technology company Sensocure. The total equity investment in this round was 24 million NOK.
-We are very happy to announce the signature of this agreement with the EIC Fund. This equity investment shows the commitment of both existing and new shareholders to bring Sensocure into its commercial phase, said Sensocure Chief Executive Officer, Trond Herje.
Sensocure PLC develops biomedical sensors for healthcare. The company´s main product is IscAlert, a groundbreaking sensor system that in realtime and continuously monitors for and detects the onset of ischemia. Ischemia is a condition where the cells do not get enough oxygen to survive because of inadequate blood supply. More than 30 million people die from ischemia worldwide annually.
-The funding will help accelerate commercialization efforts and market access in Norway and Europe for our innovative biomedical sensor IscAlert, said Sensocure CEO Trond Herje.
Sensocure completed its first clinical trial in June 2022 with excellent results. The company has finalized the certification process and is presently expecting to receive the CE-mark for IscAlert in compliance with the Medical Device Regulation (MDR) 2017/745. Simultaneously Sensocure is in the final stages of the premarket submission to secure FDA clearance.
“EIC Fund's investment in Sensocure underscores our commitment to backing innovative companies that aim to improve the health and well-being of European citizens. Sensocure's cutting-edge technology has the potential to positively impact millions of patients, reduce the number of intensive care patients, and ultimately save many lives." said Svetoslava Georgieva, Chair of the EIC Fund Board.
Sensocure has previously received funding from the European Innovation Council, The Norwegian Research Council and Innovation Norway.
Contact info:
Sensocure: CEO, Trond Herje; email: trond@sensocure.no
European Investment Bank: Sébastien Reix, Private equity and venture capital, EIB
s.reix@eib.org
About EIC Fund
The European Innovation Council Fund from the European Commission is an agnostic Fund: it invests across all technologies and verticals, and all EU countries and countries associated to Horizon Europe. It provides the investment component of the EIC Accelerator blended finance. The European Investment Bank acts as investment adviser to the EIC Fund.
The EIC Fund aims to fill a critical financing gap, and its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players, and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders as well as the ambition to reduce the innovation divide among EU countries.