Eindhoven-based Scinvivo, a medtech startup, announced on Wednesday that it has secured €4.7M from Santec OIS Corporation, The NLC Health Impact fund, current shareholders, and an “Innovatiekrediet” (Innovation credit) loan of the Netherlands Enterprise Agency (RvO).
The company will use the funds to improve the catheter, OCT system, and software such that it can be used in the clinic and is appealing to urologists.
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Marijn van Os, CEO of Scinvivo, says, “I am very pleased with this investment round. With Santec we strengthen our supply chain and get a foot hole in the Japanese market. With NLCs HIF, the biggest investor in Europe for Medical start-ups, we have an investor on board who understands the specific dynamics in the medical venturing world.”
Scinvivo says clinical trials will be conducted to demonstrate the clinical benefits of the product, and they will also prepare the necessary documentation to obtain CE certification.
Maaike de Jong, CMO of Scinvivo, says, “This investment brings us a step closer to the market introduction of our OCT imaging platform. We are looking forward to a close collaboration with Santec, and to obtaining the first in vivo clinical results.”
Additionally, the company will work on a go-to-market strategy to ensure a successful launch of the OCT imaging platform and make it a commercial success.
Led by Marijn van Os, Scinvivo aims to improve cancer diagnostics for better patient outcomes by reducing unnecessary surgeries and increasing accuracy.
The company is developing an imaging platform based on a forward-looking OCT catheter to visualise the human morphological tissue structure a few mm deep with a high resolution.
This approach fills the gap in the current image modalities and enables more precise invasive surgeries.
As a result, it will significantly improve the diagnosis of cancer, resulting in a precise personalised treatment.
Santec is guided by a commitment to Optical Technology that is revolutionising the way we perceive the world and share information.
Changho Chong, CTO of Santec, says, “I strongly believe cancer screening with Scinvivo’s OCT technology supported by Santec’s laser will set a new milestone not just in the procedure for bladder cancer but also in many other endoscopy applications.”
NLC Health Ventures is an early-stage healthcare investor and the world’s largest venture builder in healthtech.
Lars Olthof, Investment Manager at NLC Health Ventures says, “This investment will enable Scinvivo to further develop their technology and get their first clinical results. It is a vote of confidence of all parties involved, that we truly believe that this innovation has the potential to improve patient lives at scale. ”
The Innovation credit is a loan from the Netherlands Enterprise Agency (RvO). The Innovation Credit is intended for the development of innovative development projects with considerable technological risks and an excellent market perspective.
RVO represented by Bibi van Gijzel and Iris Eefsting, says, “As the Netherlands Enterprise Agency (Rijksdienst voor Ondernemend Nederland ((RVO)), we are proud to announce our support for Scinvivo through the Innovation Credit program (Innovatiekrediet). This partnership exemplifies our commitment to fostering innovation with tangible benefits for the Netherlands. Scinvivo’s pioneering photonic technology holds great promise in revolutionising early diagnosis for bladder cancer patients, potentially reducing the need for invasive surgeries and significantly impacting the healthcare system. We are excited to collaborate with Scinvivo in driving forward this transformative project, ultimately aiming to improve patient outcomes and advancing healthcare innovation in our country.”
