CA-based digital health company Injectsense Inc. and Sister Company Injectpower secures $9.4m. The funds comes in the form of a $2.5 million bridge loan from private investors to support Injectsense while it proceeds into clinical IOP trials and develops its final product with strict quality control measures.
Injectpower, which plans to prepare its energy-dense, solid-state lithium-ion technology for production transfer, has received €6.5 million (US$7 million). The funds will be used by the sister companies to produce integrated autonomous implantable devices, which are smaller than rice grains.
Read also – UK-based Accenture Acquire 6point6
The funds will be used to further merge the two businesses’ worldwide supply chains in order to establish an advanced medical device cluster centred on France for implantables.
The cluster is anticipated to optimise business prospects, facilitate enhanced supply chain management, and enhance Injectsense’s ongoing first-in-human trials for intraocular pressure (IOP) sensors, which are scheduled for February 2024.
The implant sensors track IOP all the time, even while you sleep, when pressure can rise sharply and eventually result in blindness.
By 2024, Injectsense expects to have produced thousands of prototype devices, having previously produced hundreds. In addition to IOP sensors, it is developing intracranial pressure (ICP) measurement sensors and paving the way for applications in cardiovascular pressure monitoring.
Under the leadership of Dr. Thomas Johnson III, M.D., Injectsense has donated sensors to the Wilmer Eye Institute at Johns Hopkins University for use in animal testing. The Institute is working to finish its investigation. For the most recent version of its sensor, the business used funds recently awarded by the NIH.
This version will be utilised in Dr. Juan Jose Mura’s first-in-human research in Santiago, Chile. In order to gather long-term safety and clinical data, the trial will take place over several months, with data being available in late spring (and sooner for Injectsense’s ophthalmic device partner).
Private and commercial investors, such as the IDEC Group, business angels from the French Silicon Valley, Bpifrance, and banking partners, provide finance for Injectpower.
Based on 20 years of technological development at the French research organisation CEA and more than 40 patents, the company was created in 2020.
The goal of Injectpower is to ignite the medical implant energy storage market. The batteries and other components will be made in a 200mm MEMS fabrication facility that the company is developing in Grenoble, France.