SAVA funding news – London-based SAVA Secures over €7.4 Million in Seed Funding

Preventive, customised, and simple

The first microsensor from SAVA is intended for glucose monitoring in individuals with diabetes, which is expected to affect 783 million people, or 1 in 8 adults, by 2045. Accurate glucose monitoring devices are essential for diabetics to properly control their disease.

As a result, more healthcare facilities throughout the world are making CGMs the standard of care for diabetic patients. By 2025, the NHS alone has pledged to give a CGM to every person in the UK who has Type I diabetes. Owing to the global diabetes pandemic, the CGM industry is estimated to be valued $8.2 billion and is expanding at a rate of 10% annually.

The UK's Medicines and Healthcare Products Regulatory Agency (MHRA) has granted the startup permission to begin conducting clinical trials on diabetes patients. This will enable Sava to validate its ground-breaking technology on a more extensive basis.

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One of the strictest validation processes in the world, the MHRA evaluates both the device's performance and safety as well as the planned clinical investigation's design.

In addition to providing consumers with painless, real-time information, SAVA's microsensor will be far more accessible and reasonably priced. World-class researchers from the Universities of Oxford and Cambridge are planning to begin a clinical investigation on the microsensor soon.

Far beyond diabetes

However, glucose monitoring is only the beginning. Over time, SAVA's sensor will be able to monitor numerous molecules at once thanks to its modular design. The capacity to monitor a wide range of illnesses is made possible by multi-analyte sensing, including drug adherence, personalised therapy, next-generation wellbeing applications, and chronic conditions. The mission of SAVA is to drive healthcare into the next age.

With this latest investment round, the London-based startup has collected $13 million from angel investors, well-known venture capital firms, the European Union, and the UK government (via Innovate UK).

With the addition of several of the inventors of the Abbott, Dexcom, and Medtronic CGMs, the team has quickly expanded to include over 40 members. The funds will be utilised to develop SAVA's next-generation product line with high-throughput production capabilities, show the platform's clinical efficacy, and grow the company's workforce.

Renato Circi, co-founder, SAVA said: “At SAVA we are tackling preventable illness by building a new operating system for health monitoring. Our microsensor will revolutionise healthcare by making world-leading monitoring technology available to all. With this capital, we can accelerate our goal of creating a new paradigm for healthcare – preventative, personalised and painless.”

Rafael Michali, co-founder, SAVA said: “SAVA’s mission is to transform healthcare from a curative to a preventative system, by empowering people to take control of their health through effortless access to real-time health insights. The current healthcare system cannot meet this demand and SAVA will bridge this gap by providing the foundational architecture of a new biosensing ecosystem.”

James Wise, Partner, Balderton said: “This could be the defining product in personal health monitoring in the coming decade, and an essential tool for patients and clinicians in diagnosing and treating many chronic diseases as well. Renato and Rafael have a compelling user-centric vision to revolutionise chronic disease management and preventative care, and the credibility and knowledge to execute in this vital area.”

Noam Ohana and Ileana Pirozzi, of Exor Ventures said, “SAVA’s unique approach and novel technology underline its potential to become a foundation of a new healthcare system. It offers a platform that addresses the needs of both patients and healthcare systems and which will allow other companies to build upon."

About SAVA

SAVA is redefining the way people interact with their health by developing the most advanced biosensing technology science has to offer, capable of accessing bodily information in a painless, real-time and affordable way.