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.
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