The funding round was run by the investment house Springvest, who also organized Cerenion’s previous round and has a strong track record in raising multi-million-euro capital rounds in Finland.
For Cerenion, the successful round marks an important milestone towards increasing its footprint on the international markets. The company’s patented C-Trend® technology reveals the status of the brain as a set of easy parameters – at the bed-side and without requiring any changes to the care of the patient. The technology represents the world’s first practical method for measuring the brain function of intensive care patients. C-Trend® is available as a Class IIb medical device in Europe and is integrated into the Bittium BrainStatus™ with Cerenion C-Trend® product offering.
In addition to a CE-marked medical device on the market, the company now has a certified ISO 13485 quality management system and an IEC 62304 conformant software development pipeline in place. The company’s core patent portfolio extends from the US and the EU to Japan and China. The company is thus well-positioned to execute on its international market entry.
With the funds now raised, the company can execute on its plan to expand market share in the EU, enter the US market, and expand to new patient groups and device extensions. Among the first new patient groups addressed will be stroke victims.
“We are grateful to both our new and our old investors for their confidence in us and our mission to improve brain monitoring of critically ill patients,” says Dr. Jukka Kortelainen, CEO of Cerenion.
To date, Cerenion has raised over 7 million euros for the development of its technology and business. The prospects for Cerenion are very promising as its technology provides potentially invaluable information for the intensive care market which is estimated at 200 billion euros worldwide.
Springvest Oyj is a modern investment house, regulated by the Finnish Financial Supervisory Authority. The company serves the most promising growth companies looking for an effective, trustworthy, and easy way to raise capital.
Source: Cerenion