According to a Luciole Medicalpress release, the 5.3 million Swiss francs raised in the Series A financing round will be used to initiate commercialization of its minimally-invasive monitoring probe designed to measure blood oxygen levels in the brain, which is aimed specifically for patients in intensive care units. The company also intends to further develop its non-invasive patch designed to measure oxygen saturation and blood flow of brain tissue in patients undergoing surgery.
Several new investors participated in the recent financing round including SVC, a subsidiary of Credit Suisse. Existing shareholder Zürcher Kantonalbank (ZKB) also provided significant support to Luciole Medical.
“This support from seasoned investors is a transformative step that will allow us to accelerate the development of our next-generation brain monitoring platform,” said CEO Philippe Dro. “Our goal is to commercialize these important clinical tools that enable physicians to rapidly access critical information on the oxygenation status of the brain.”
Luciole Medical was founded last year in Zurich as the successor company of the Schlieren-based company NemoDevices. Headed by Emanuela Keller, Professor of Neurointensive Medicine at the University of Zurich (UZH), NemoDevices was a spin-off of UZH and the Federal Institute of Technology (ETH) in Zurich. NemoDevices developed monitoring technologies for people with suffering from strokes or brain damage. Luciole Medical has acquired all rights and know-how pertaining to its developments.
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