Belgium's TheraSolve has closed its first financing round co-led by Thuja Capital and LRM. The funding will allow TheraSolve to develop and start commercialization of its MemoPatch device. In addition, TheraSolve, which was founded in 2009, will relocate its premises to the life sciences incubator BioVille at the Hasselt University campus.
TheraSolve's MemoPatch is a disposable device that discreetly reminds patients to take their medications. As the company notes, nonadherence to their medication regimens is a highly prevalent problem that severely impacts treatment outcomes.
"TheraSolve is built on the fertile soil of a brilliant idea, exactly the right assets, and the right people," says Harrold van Barlingen, managing partner at Thuja Capital. "We are very pleased that we succeeded in accomplishing this financing round and we are confident that TheraSolve will be successful in developing their first product".
Financial details of the investment have not been disclosed.
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