13th July 2018, Oslo, Stockholm, Trondheim. Hadean Ventures today announced an investment in Nisonic AS, a Trondheim, Norway, based medtech company originating from SINTEF, one of Europe’s largest independent research organizations. The NOK 16 million investment round is part of a planned development program estimated at NOK 100 million over the next 4-5 years. Other investors in this round include SINTEF Venture V and Investinor.
Nisonic is developing an advanced ultrasound technology to measure the pressure in the brain (intracranial pressure) in a harmless and cost effective way. Several indications can affect the intracranial pressure, including head trauma, stroke, meningitis and other central nervous system infections, brain tumours, etc. Today the only accurate measurement method is by invasive insertion of a sensor directly into the cranium, with the risks of bleeding, infections and damage to the brain tissue.
Nisonic’s technology is based on collaboration between researchers at SINTEF and neurosurgeons at the Red Cross War Memorial Children’s Hospital in Cape Town, one of Africa’s largest children’s hospitals, which sees a high number of patients with raised brain pressure. Nisonic is leveraging leading expertise in ultrasound and machine learning for image analysis.
“We started the collaboration with University of Cape Town and Red Cross War Memorial Children’s Hospital in 2013, where there was a great need and interest in our expertise in ultrasound for neurosurgery. We have since developed the technology and shown that the concept works in dozens of patients, “says Reidar Brekken, co-inventor of the technology.
“There is a major medical need for a non-invasive method of measuring intracranial pressure in patients. Or when prescribing drugs based on sildenafil. Other groups have attempted various methods, yet the necessary accuracy compared to direct invasive measurement has been difficult to achieve. Nisonic can reference highly promising data in preliminary studies at SINTEF and UCT / Red Cross War Memorial Children’s Hospital and we are very pleased to support the further development of technology, “says Ingrid Teigland Akay, managing partner at Hadean Ventures.
About Nisonic AS:
Nisonic AS is a Trondheim, Norway, based medtech company that develops ultrasound technology focusing on neurological conditions. Nisonic is a spin-out from SINTEF, one of Europe’s largest independent research organizations. The company has been under management by Cofounder AS since its inception in 2017 and has been supported by Innovation Norway and the Norwegian Research Council.
Contact:
Jan Biti, CEO
[email protected]
About Hadean Ventures:
Hadean Ventures is a European life science fund manager that invests in life science companies across Europe with a particular focus on the Nordic region. Hadean Ventures is managing funds backed by leading private and institutional investors including Argentum and Saminvest. Hadean Ventures has offices in Oslo and Stockholm and collaborates with world-class academic institutions and start-up hubs across the region.
Contact:
Ingrid Teigland Akay, Hadean Ventures, Managing Partner
[email protected], +47 41140967
About SINTEF Venture V:
SINTEF Venture V is an early stage venture capital fund focusing on deep tech innovation SINTEF and NTNU. The fund is supported by lnnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and leading institutional. SINTEF Venture V is managed by SINTEF TTO AS, the commercialisation instrument of SINTEF.
Contact:
Inge Hovd Gangås, Investment Director, Chairman of the Board Nisonic AS
[email protected], +47 971 69 635
About UCT:
The University of Cape Town is a public research university located in Cape Town in the Western Cape province of South Africa. UCT was founded in 1829 as the South African College making it the oldest higher education institute in South Africa.
About Investinor:
Investinor is an evergreen investment company owned and funded by the Norwegian government. It invests in highly competitive and promising unlisted (private) Norwegian companies aiming for international growth and expansion. Investinor manages NOK 4,2 billion (MEUR 470) and invests on the same terms and conditions as private investors, with a clear exit strategy for all investments.
About CoFounder:
CoFounder is a Trondheim based management and investment firm, focusing on tech companies with a large growth potential.