Israel's Sensible Medical has picked up a reported $20 million to fund development of its noninvasive lung fluid monitor, closing a round led by global device giant Boston Scientific ($BSX).
The company declined to disclose the size of its latest raise, but Globes' sources say it came in at $20 million, giving Sensible the cash it needs to get its product to market. The round brings the company's total venture haul to $37 million since its 2007 launch, and Sensible will use it to wrap up global registration studies and secure market clearances, the company said.
The wearable device is designed to provide a quantitative, absolute measurement of lung fluid content in heart failure patients, eliminating the guesswork of commonly used weight- and symptoms-based monitoring while avoiding the surgical procedures required for implantable hemodynamic monitors.
Under the terms of the investment, Boston Scientific will have nonexclusive rights to sell the device around the world, Globes reports, and Sensible expects to lock up regulatory clearances in the next 6 months.
Now, with cash in hand and a clinical plan in place, Sensible is prepared to take its novel technology to the market, and CEO Amir Ronen said the company is "humbled" to join forces with the likes of Boston Scientific.
"We are proud that our technology has been embraced by leading physicians worldwide who are helping us in our path towards commercialization," Ronen said in a statement. "A robust and accurate technology for non-invasive fluid monitoring is clearly a dramatic and disruptive capability that could impact the lives of millions."
Like many Israeli medical tech companies, Sensible was founded by former defense workers who figured out a way to apply military technology to medicine. In this case, Ronen told Globes, Sensible's founders translated "see-through-walls" radiofrequencies into a patient-safe device for measuring fluid buildup.
- read the announcement
- check out the Globes story
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