The Sciety syndicate invests MSEK 9.1 in a cardiovascular diagnostic company
The Sciety investment syndicate recently made an investment of 9.1 million SEK in the company Cavis Technologies, which has developed Wirecath®––a patent-pending product for the diagnosis of coronary heart diseases. The new capital will be used to establish sales on the European market.
“Only in Europe, over 1.5 million people die every year from coronary artery disease. The team behind Cavis Technologies has extensive experience in developing pressure wires for the diagnosis of coronary artery disease. Cavis Technologies uses a design different from existing pressure wires, which is expected to provide important clinical benefits”, says Andreas Lindblom, CEO of Sciety.
Cardiovascular diseases are the most common cause of death in the world and coronary heart diseases are the leading single cause of death in Europe. Studies have shown that the risk of death can be reduced by over 30% if pressure measurement is used as a diagnostic method. “Despite this fact, the existing pressure wires are used to a low extent, mainly because they are difficult to operate and can give unstable results”, says Mats Hilmersson, CEO of Cavis Technologies.
With its pressure wire Wirecath®, Cavis Technologies aims to contribute to more accurate diagnosis for people with coronary artery diseases. With a team having over 15 years of experience in the field, Wirecath® was developed to give cardiologists an easier and faster method that also avoid misdiagnosis.
“We are very satisfied with the collaboration with Sciety. The investment from Sciety and its investment syndicate will be used for our launch and expansion in Europe”, says Mats Hilmersson.
A total of 9.1 million SEK was invested by Sciety’s investment syndicate, of which the investment firm Linc AB and a family office accounted for most of the investment.
Sciety is the leading investment syndicate in the Nordics with an exclusive focus on life science and health tech. Our mission is to help life science innovations to reach their full potential and create value. By combining experience from life science and finance we select promising companies in the industry. We invest own funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
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