SmiLe Inject Capital Participates in Acorai's New Share Issue Ahead of the Launch in the USA
The Acorai team, with founder Filip Peters 2nd from left in the front row
Lund, Sweden – SmiLe Inject Capital invests 3 million SEK in the medical technology company Acorai as part of the company's new share issue totaling over 45 million SEK (4.5 million USD). The round is led by the American venture capital fund Solardis Health Ventures, along with other American funds and the company's existing owners. Acorai is one of SmiLe's alumni companies.
Acorai is developing equipment for measuring intracardiac pressure with a unique technology that enables non-invasive monitoring of patients with heart failure.
There is a significant need for better and simpler monitoring of the large number of heart patients globally. Last year, Acorai received the exclusive "Breakthrough device designation" from the FDA for its innovation – a designation that can expedite the application process for market approval of the product.
The current investment contributes to the funding of Acorai's ongoing clinical studies, which are part of the regulatory approval process for the company's product. In addition to the investment, Acorai recently received a grant of 25 million SEK and also has the opportunity to obtain over 100 million SEK in venture capital from the European Innovation Council (EIC).
Acorai's ongoing global clinical study, CAPTURE-HF, with around 1200 patients, is expected to be completed in 2024. The focus now is to complete the clinical studies with the aim of subsequently conducting a larger capital raise ahead of a commercial launch in 2025.
"The Acorai team is working very professionally and purposefully to position themselves in the American market. The significant healthcare needs for heart patients and the unique solution that Acorai has developed pave the way for an exciting development for the company," says Ebba Fåhraeus, CEO of SmiLe Incubator.
For more information, contact:
Filip Peters, the CEO and cofounder of Acorai, +46 70 875 67 81
or
Ebba Fåhraeus, the CEO of SmiLe Incubator, +46 73 400 04 33, ebba@smileincubator.life
About Acorai:
Acorai is developing a non-invasive intracardiac pressure monitoring device to improve heart failure management for more than 64 million patients worldwide. Acorai's Monitoring system was designated a breakthrough device by the FDA in 2023 and is built upon the patented SAVE Sensor System, a proprietary, non-invasive hardware & machine learning platform. https://acorai.com/
About SmiLe INJECT Capital:
SmiLe INJECT Capital is the only angel investment company in Sweden exclusively focused on promising early-stage life science companies. Through INJECT, private investors have the opportunity to benefit from SmiLe's extensive life science expertise, international networks, and unique insights into early-stage life science companies. The funding is provided by experienced business angels together with the state-owned venture capital company Saminvest.
About SmiLe
SmiLe Incubator is a life science business incubator based in Medicon Village in Lund, Sweden. SmiLe offers business coaching, a broad international industry and investor network and a unique laboratory infrastructure with state-of-the art instrumentation. Since the start, SmiLe has helped 100+ entrepreneurs commercialize their business ideas. Currently there are some 30 companies in SmiLe incubator which, together with alumni companies, have attracted more than EUR 805 million in venture capital since 2014. To date, 21 of SmiLe´s companies have launched an IPO. SmiLe is a non-profit organization and receives basic funding from Region Skåne, Lund Municipality, Lund University and Medicon Village. SmiLe´s sponsors are Agilent, Sparbanken Skåne, Høiberg, Magle Chemoswed, Merck, Setterwalls, Zacco, Phase Holographic Imaging and ChemoMetec. www.smileincubator.life
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