Utrecht medtech startup ViCentra raises 65 million euros led by Amsterdam-based venture capital firm Partners in Equity
Dutch medical device company ViCentra announced on Thursday that it has closed a € 65 million Series C financing led by new investor Partners in Equity BV. The cycle also saw the participation of existing investors LSP, INKEF Capital and Health Innovations.
Use of funds
The new funding will help ViCentra accelerate the commercial launch of Kaleido, the world’s smallest and lightest portable insulin pump. The company also plans to expand its manufacturing operations and prepare for filing with the FDA. “The commercial launch of the Kaleido system will focus on the Netherlands, France, Germany and the UK, with additional regions targeted in due course,” said Frans Cromme, CEO of ViCentra.
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The announcement also marks the launch of the next generation of ViCentra’s Kaleido System, which adapts to Diabeloop’s advanced automated closed-loop insulin delivery (AID) solution, the DBLG1 System. By integrating its solution with Diabeloop, Kaleido will be available to work with the DBLG1 handset and the proprietary algorithm.
The funding will help ViCentra realize its vision of creating a product with a closed loop system and expanding its product to new EU markets. The collaboration with Diabeloop will bring the first AID system with a portable pump in Europe. This system combines the world’s smallest pump with the advanced dosing algorithm and the intuitive user interface designed by Diabeloop.
“The system is simple and easy to use, providing a significant improvement in the quality of life for people with type 1 diabetes. This is in line with ViCentra’s philosophy of designing brilliantly designed health products that truly put health first. people. We don’t design for patients, we design for people, ”added Frans Cromme.
ViCentra: what you need to know
WHO estimates that there are approximately 422 million people with diabetes worldwide. As the world’s population ages, the WHO expects the number to grow and ViCentra sees technology as the way to address this situation and provide a better life for people with diabetes. Based in Utrecht, The Netherlands, ViCentra is the manufacturer of the world’s smallest and lightest portable insulin pump called Kaleido.
It was started in 2013 by two engineers with training in insulin pumping and strong ties to people with diabetes. They realized how rigid the existing pumping options were and didn’t take into account how each person with diabetes is different in terms of their tastes and needs. So they got to work and designed Kaleido as a simple, user-friendly insulin pump.
The Kaleido system consists of two pumps and a handset that resembles the iPod Nano. It has pump and body patches and two different tube lengths for users to choose how to wear it. With its 10 rainbow colors, ViCentra makes its insulin pumping device more of an accessory than a medical device.
ViCentra also works with other organizations like Diabeloop and JDRF to craft ideas and make things better for people with type 1 diabetes. In a nutshell, ViCentra is a collaborative healthcare company focused on creating a Insulin pump therapy designed to help people with diabetes live their lives on their own terms.
The roundtable was led by Partners in Equity, a private investment firm based in Amsterdam. Partners in Equity was founded in 2003 to partner with those who push the boundaries. With investments in sectors such as agribusiness, education and health, Partners in Equity seeks companies with a holistic view of a sector and those seeking to achieve one or more Sustainable Development Goals (SDGs) of United Nations.
Partners in Equity was joined by existing investors LSP, INKEF Capital and Health Innovations. ViCentra is also supported by Invest-NL and Kreos Capital. The team of highly experienced investors will help ViCentra grow its manufacturing and market its insulin pumping system while helping to gain regulatory approval.
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