Luciole Medical raised 5.3 million Swiss francs, or about $5.52 million, to commercialize its minimally invasive probe for measuring blood oxygen levels in the brain.
Designed for patients in intensive care units, the device measures oxygenated and de-oxygenated hemoglobin in the brain and cerebral blood flow, providing information on tissue metabolism and brain function. Luciole received a CE mark in 2016 for use in comatose patients following stroke or traumatic brain injury.
The Zurich-based company’s series A financing round was led by SVC Ltd., a subsidiary of Credit Suisse focusing on small- and medium-sized ventures, alongside co-investors Blue Ocean Ventures, Investiere and B-to-V.
It also received financial support from its existing shareholder, Zürcher Kantonalbank, the largest government-owned bank in Switzerland. The company was launched as a spinout from the Swiss Polytechnic Institute and the University of Zürich.
Luciole is currently developing its second product, a noninvasive patch to be used in anesthesia and other conditions where the brain may be exposed to oxygen desaturation. Impaired oxygenation in the brain can rapidly lead to cognitive decline, speech impairment, paralysis, coma and death.