- UK medical device startup SAVA secures €7.4M funding led by Balderton Capital and Exor Ventures
- SAVA, founded by bioengineers from Imperial College London, develops wearable biosensor platform
- Funding to be used for team expansion, product design, and clinical performance demonstration
- SAVA’s microsensor focuses on glucose monitoring for diabetes, gaining MHRA approval for clinical trials
- Company aims to revolutionize healthcare with preventative, personalized, and affordable biosensing ecosystem
Revolutionizing Healthcare Monitoring with SAVA’s Wearable Biosensor
In exciting news for the health tech industry, UK-based medical device startup SAVA has successfully secured €7.4M in funding for its innovative wearable biosensor platform. This significant milestone marks a crucial step forward for the company, which aims to revolutionize healthcare monitoring through cutting-edge technology.
Founding Vision and Breakthrough Technology
Founded by bioengineers Renato Circi and Rafael Michali, both alumni of Imperial College London, SAVA has developed a microsensing device that detects molecules in the interstitial fluid just beneath the skin. This smart wearable patch is designed to streamline data collection and deliver real-time insights directly to users’ smartphones.
Renato Circi, co-founder of SAVA, expressed the company’s mission succinctly, stating, “At SAVA, we are tackling preventable illness by building a new operating system for health monitoring. Our microsensor will revolutionize healthcare by making world-leading monitoring technology accessible to all.” This ambitious goal underscores the company’s commitment to creating a paradigm shift in healthcare towards a preventative, personalized, and painless approach.
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Focus on Glucose Monitoring for Diabetes Care
SAVA’s microsensor technology is initially focused on glucose monitoring for individuals with diabetes, a condition projected to affect approximately 783 million people globally by 2045. Accurate glucose monitoring is essential for individuals with diabetes to manage their condition effectively, leading to an increasing adoption of Continuous Glucose Monitors (CGMs) by healthcare institutions worldwide.
Notably, the UK’s National Health Service (NHS) has outlined plans to provide CGMs to all individuals with Type I diabetes by 2025, highlighting the growing importance of advanced monitoring technologies in improving patient outcomes. SAVA recently received approval from the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) to conduct clinical trials on diabetes patients, a crucial step in validating the efficacy and safety of its innovative technology on a larger scale.
Rafael Michali, co-founder of SAVA, emphasized the company’s commitment to empowering individuals to take control of their health through seamless access to real-time health insights. By bridging the gap between traditional healthcare systems and personalized biosensing technology, SAVA aims to lay the foundation for a new era of preventative healthcare.
Strategic Funding and Industry Recognition
The recent €7.4M funding round, led by Balderton Capital and Exor Ventures, brings SAVA’s total raised capital to €12.1M, demonstrating strong support from leading venture capital firms, angel investors, and governmental bodies such as the European Union and the UK Government. This financial backing will enable SAVA to expand its team, develop a next-generation product line with high-throughput manufacturing capabilities, and validate the clinical performance of its biosensor platform.
Balderton Capital, a prominent venture firm with a successful track record in backing technology startups, sees SAVA’s biosensor technology as a potential game-changer in personal health monitoring and chronic disease management. James Wise, Partner at Balderton, praised SAVA’s user-centric vision and the founders’ expertise in driving innovation in the healthcare sector.
Exor Ventures, the early-stage investment arm of Exor N.V., recognizes SAVA’s unique approach and novel technology as foundational elements for a new healthcare system. Noam Ohana and Ileana Pirozzi of Exor Ventures highlighted the platform’s potential to address the evolving needs of patients and healthcare systems, paving the way for further advancements in the industry.
SAVA’s successful funding round and innovative biosensor technology position the company at the forefront of healthcare monitoring innovation. With a strong founding vision, strategic partnerships, and a commitment to empowering individuals through personalized health insights, SAVA is set to reshape the future of preventative healthcare.
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