LSP Leads EUR 11 Million Series A Funding Round in OneProjects



Amsterdam, the Netherlands, 23 June 2020 - LSP, one of Europe’s leading life sciences and healthcare investors, today announced its investment in OneProjects Ltd, an Irish-German medical device start-up specialising in cardiac imaging innovations. The €11 million Series A financing round was led by LSP, investing from its LSP Health Economics Fund 2, and co-led by Atlantic Bridge University Fund (Ireland), with participation from Enterprise Ireland and a selection of prominent MedTech entrepreneurs.

 

OneProjects is developing a novel breakthrough technology in the field of medical imaging called VERAFEYE. The initial focus for OneProjects is to facilitate the treatment of cardiac arrythmias such as atrial fibrillation (an abnormal heart rhythm) and other such procedures in structural heart. The funding will be used to advance product development, carry out clinical trials and prepare for US commercialisation of the system.

 

Atrial Fibrillation (AFib) is an irregular heartbeat caused by chaotic electrical signals entering the heart and effects over 38 million people globally. One of the principal treatments for AFib is catheter ablation, which despite technological advances is only successful in about half of the procedures performed. Utilising advanced imaging and data analytics in conjunction with its innovative catheter-based sensor system, the VERAFEYE aims to increase the efficacy and safety of treatment for the growing number of patients worldwide.

 

Drew Burdon, Investment Manager at LSP commented, “VERAFEYE has the potential to positively impact this clinical condition, providing benefit to the many patients who are suffering unnecessarily, as-well as facilitating significant savings to the healthcare system. The team have already made substantial progress towards developing this novel technology and we are excited to be a part of the next stage of their journey.’’

 

As part of the transaction Drew Burdon and Helen Ryan (Atlantic Bridge) will join the Board of Directors along with David Milne, a previous managing partner at SV Healthcare Investors and former executive at Boston Scientific with over 30 years of experience in the healthcare industry.

 

About OneProjects
OneProjects is a privately held, venture backed medical device company based in Dublin (Ireland) and Munich (Germany). The company designs and develops an innovative imaging platform in the cardiac space and operates at the intersection of hardware, software and data science. Originating from Bioinnovate Ireland and spun out of Trinity College Dublin, OneProjects was by founded by Fionn Lahart (CEO) and Christoph Hennersperger (CTO) in 2017. one-projects.com
 

About LSP

LSP is an independent European investment firm, providing financing for private and public life sciences and health care companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. LSP’s management has raised $2.5 billion since it started to invest in 1988. The group has offices in Amsterdam, Munich and Boston. Among LSP’s signature deals are argenx, Crucell, KuDOS, Movetis, Neuravi, Okairos, Prosensa, Qiagen, Rotation Medical and Zealand Pharma. The LSP Health Economics Fund 2 invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: lspvc.com
 
 
For further information, contact:
Drew Burdon, Investment Manager, LSP
+31 20 664 55 00

 

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LSP Leads EUR 11 Million Series A Funding Round in OneProjects



Amsterdam, the Netherlands, 23 June 2020 - LSP, one of Europe’s leading life sciences and healthcare investors, today announced its investment in OneProjects Ltd, an Irish-German medical device start-up specialising in cardiac imaging innovations. The €11 million Series A financing round was led by LSP, investing from its LSP Health Economics Fund 2, and co-led by Atlantic Bridge University Fund (Ireland), with participation from Enterprise Ireland and a selection of prominent MedTech entrepreneurs.

 

OneProjects is developing a novel breakthrough technology in the field of medical imaging called VERAFEYE. The initial focus for OneProjects is to facilitate the treatment of cardiac arrythmias such as atrial fibrillation (an abnormal heart rhythm) and other such procedures in structural heart. The funding will be used to advance product development, carry out clinical trials and prepare for US commercialisation of the system.

 

Atrial Fibrillation (AFib) is an irregular heartbeat caused by chaotic electrical signals entering the heart and effects over 38 million people globally. One of the principal treatments for AFib is catheter ablation, which despite technological advances is only successful in about half of the procedures performed. Utilising advanced imaging and data analytics in conjunction with its innovative catheter-based sensor system, the VERAFEYE aims to increase the efficacy and safety of treatment for the growing number of patients worldwide.

 

Drew Burdon, Investment Manager at LSP commented, “VERAFEYE has the potential to positively impact this clinical condition, providing benefit to the many patients who are suffering unnecessarily, as-well as facilitating significant savings to the healthcare system. The team have already made substantial progress towards developing this novel technology and we are excited to be a part of the next stage of their journey.’’

 

As part of the transaction Drew Burdon and Helen Ryan (Atlantic Bridge) will join the Board of Directors along with David Milne, a previous managing partner at SV Healthcare Investors and former executive at Boston Scientific with over 30 years of experience in the healthcare industry.

 

About OneProjects
OneProjects is a privately held, venture backed medical device company based in Dublin (Ireland) and Munich (Germany). The company designs and develops an innovative imaging platform in the cardiac space and operates at the intersection of hardware, software and data science. Originating from Bioinnovate Ireland and spun out of Trinity College Dublin, OneProjects was by founded by Fionn Lahart (CEO) and Christoph Hennersperger (CTO) in 2017. one-projects.com
 

About LSP

LSP is an independent European investment firm, providing financing for private and public life sciences and health care companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. LSP’s management has raised $2.5 billion since it started to invest in 1988. The group has offices in Amsterdam, Munich and Boston. Among LSP’s signature deals are argenx, Crucell, KuDOS, Movetis, Neuravi, Okairos, Prosensa, Qiagen, Rotation Medical and Zealand Pharma. The LSP Health Economics Fund 2 invests in innovative products that can increase the quality of health care, while reducing the cost of care. For more information, please visit: lspvc.com
 
 
For further information, contact:
Drew Burdon, Investment Manager, LSP
+31 20 664 55 00

 

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