Dr Conor Hanley, co-founder and CEO, BiancaMed. Photo by Jason Clarke.
BiancaMed, a leading medical technology company and a spin-out from UCD, announced today that it has received an additional €6 million in funding.
BiancaMed has developed and is marketing SleepMinder™, an accurate, contactless and convenient device for the measurement of sleep and breathing in the home. BiancaMed is headquartered in NovaUCD, the Innovation and Technology Transfer Centre at UCD. The technology at the core of BiancaMed’s SleepMinder™ was initially developed at the UCD School of Electrical, Electronic and Mechanical Engineering by Dr Conor Heneghan, Chief Scientific Officer, and Dr Philip de Chazal, Chief Technology Officer.
This new investment will allow BiancaMed to expand its core team and accelerate the launch of several innovative consumer products with existing partners in the wellness space. It will also enable the continued development of clinical products targeting unmet needs, in areas such as sleep apnoea screening and disease management.
This second round funding was led by pan-European venture capital firm Seventure Partners. Three of BiancaMed’s existing investors ePlanet Ventures, Enterprise Ireland and ResMed also participated in this round.
BiancaMed co-founder and CEO Conor Hanley said, ‘With this new financing we will be able to accelerate the commercial development of our proprietary non-contact, sleep monitoring technology. It is a strong validation of our technology and strategy that we have secured investment from a new investor such as Seventure and the continued support of our existing investors.’
Seventure General Partner, Isabelle de Cremoux said ‘BiancaMed is a unique company with a breakthrough technology in the massive, $20 billion global sleep market. With technology and market potential already validated through partnership agreements with leading corporations and an impressive product pipeline in new areas such as heart failure monitoring, BiancaMed offers a compelling investment opportunity for us in the Life Sciences area.’
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