The funds, provided by new investors and current shareholder, will be used to support the Company clinical and regulatory path towards pre-market approval of its TIVUS™ technology for the treatment of hypertension
TEL AVIV, Israel, Jan. 9, 2023 /PRNewswire/ -- SoniVie Ltd. ("SoniVie" or the "Company"), a medical device company developing a proprietary solution to treat hypertension, announced today the completion of a $60 million series C round financing. The financing was led by Andera Partners, with participation from Supernova Invest and Omega Funds. Current SoniVie shareholder TechWald also participated.
In conjunction with the financing, the Company appointed two renowned medtech experts to its Board of Directors, Raymond W. Cohen and Zeev Zehavi, as independent directors.
SoniVie has developed an ultrasound-based denervation technology with application in multiple therapeutic areas. TIVUS™ (Therapeutic Intra-Vascular Ultrasound System) employs high-frequency non-focused ultrasound energy to ablate nerves in the renal artery to decrease blood pressure. This minimally invasive investigational procedure can be used to treat patients suffering from hypertension, which impacts millions of people worldwide and substantially increases their risk of heart attack, stroke and kidney failure.
The proceeds from SoniVie financing are envisioned to be used to reach clinical and regulatory milestones and to support TIVUS™ renal artery denervation program.
Following this financing, the Board of Directors of the Company is chaired by Zvika Slovin and composed of directors appointed by Andera Partners (Raphaël Wisniewski), Omega Funds (Claudio Nessi), Supernova Invest (Rémi Spagnol) and TechWald Holding (Alessandro Piga), Sonivie CEO Tomaso Zambelli and independent directors Raymond W. Cohen (CEO of Axonics) and Zeev Zehavi (former executive JJDC).
"We are very pleased that this financing round concluded with such a resounding success" said Tomaso Zambelli, CEO of SoniVie Ltd. "The new investors and the Board of Directors bring significant experience to the Company in the field of Renal Denervation for Hypertension".
Raphaël Wisniewski of Andera Partners commented, "SoniVie TIVUS™ has the potential to provide patients and physicians with a safe, efficient and easy to use device. We are thrilled to support this talented management together with our syndicate partners and our new board members".
SoniVie is a medical device company developing TIVUS™, the only ultra-sound denervation platform with active development programs in three therapeutic areas: pulmonary artery denervation for pulmonary hypertension, renal artery denervation for resistant hypertension, and lung denervation for chronic obstructive pulmonary disease with chronic bronchitis. These diseases affect millions of patients in the United States and Europe. SoniVie has operations in Israel, US and Europe.
About Andera Partners
Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage over €3.7 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion, Andera Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra).
Andera Partners' mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to our investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. Performance through collective engagement, the "Power of And", constitutes Andera Partners' DNA.
Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners is wholly owned by its teams, which count nearly 100 professionals, of which 60 investment professionals. It is structured as a partnership and managed by a board of 12 partners. Responsible and committed, the management company regularly forms partnerships with non-profit sector entities and takes concrete action in the fight against global warming.
About Supernova Invest
Supernova Invest is the leading deep tech Venture Capital firm in France, managing €400+ million AUM. The current portfolio includes 70+ impact start-up companies that develop products and services leveraging breakthrough technologies in 4 transition-centric sectors: Health, Energy & Environment, Industry 4.0 and Digital Technology.
For 20 years, Supernova Invest has been providing long-term capital, operating experience, and strategic support to back sustainable growth of tomorrow's deep tech and industrial champions throughout the Venture Capital life cycle: seed, early, late and growth stages. Supernova Invest also gathers the entire deep tech value chain to support portfolio companies: industrials, corporate, research centers and co-investors.
Supernova Invest is backed by the largest asset manager in Europe Amundi and by the most innovative public research organization in Europe CEA.
About Omega Funds
Founded in 2004, Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world's most urgent medical needs.
Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption.
Omega Funds' portfolio companies have brought 48 products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine and others.
TechWald, a Group of Operational Holding Companies affiliated to TechWald Holding S.p.A., is engaged in scouting and supporting high growth potential early to development-stage companies committed to Healthcare Innovation.
TechWald and its international team of experienced healthcare executives have a key strategic focus on the MedTech industry and intend to support the development and the access to healthcare market of technologies and solutions which can provide relevant sustainable clinical benefit and value for Patients, Doctors and Healthcare Systems, rewarding Shareholders with a fair and ethical profit.
Over the last year TechWald has been engaged as controlling shareholder of SoniVie, providing financial and managerial support to the Company throughout the initiation of the IDE approved Pilot trial and the completion of the series C financing.