Swift Health Systems Secures $45 Million Series C Funding to Advance INBRACE Lingual Orthodontic System

On October 10, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company Swift Health Systems (Swift) announced the completion of a $45 million Series C financing round. The round was co-led by Vivo Capital, Novo Holdings, and VenBio Partners.

Upon completion of this financing round, Swift will continue to develop and commercialize INBRACE, its lingual orthodontic appliance, and provide professional orthodontic treatment training for dentists. Additionally, Peter Mott, Partner at Novo Holdings; Andrew D. Goldberg, Head of Vivo Capital; and Aaron Royston, Partner at VenBio Partners, will join Swift’s Board of Directors.

It is reported that Swift has completed five rounds of financing, raising a total of over $70 million. Among these, the company closed a $20 million Series B round in January 2018 and a $5.6 million financing round in August 2016.

Swift, founded in 2014 and headquartered in California, USA, is a medical device startup. The company primarily develops diagnostic and therapeutic equipment for dental conditions such as malocclusion, providing patients with new treatment options. Swift’s mission is to leverage its advanced technologies to enhance the patient care experience and reduce healthcare costs.

Swift Health Systems Inc. has developed INBRACE, a lingual orthodontic appliance, leveraging its digital platform and innovative bracket technology. This personalized orthodontic system is user-friendly and indicated for a wide range of cases. The product performs comprehensive scans of patients’ teeth and automatically generates orthodontic treatment plans based on the scanning data and results. Approved by the FDA for market release in 2018, INBRACE has significantly improved treatment outcomes for patients with dental malocclusions.

Lingual orthodontics is a corrective method performed on the lingual (tongue-facing) surfaces of patients' teeth. It maximally meets aesthetic demands, reduces the incidence of dental caries and the likelihood of post-treatment relapse, and helps patients more effectively control tooth movement. However, this technique imposes stringent requirements on the clinician's technical proficiency as well as on the associated equipment and instruments.

Currently, advanced orthodontic systems integrate expertise from computer science, biomechanics, clinical dentistry, 3D printing, and materials science. Equipped with robust computer-aided diagnosis and treatment capabilities, these systems safeguard patients’ dental health while meeting the growing market demand.

Dr. John Pham, CEO and Co-founder of Swift, stated, “INBRACE is a groundbreaking medical device, and this financing will help us continue to develop similar medical products. Swift has always been patient-centric, committed to improving the patient experience and treatment outcomes, and safeguarding the oral health of the general public.”

Andrew D. Goldberg stated, “I am delighted to join the Swift team. Meanwhile, Vivo Capital will continue to provide financial support to Swift. We believe that the advanced technology behind INBRACE will revolutionize the future of orthodontic treatment.”

Vivo Capital, established in 1997 and headquartered in California, USA, is a venture capital and private equity firm. The company focuses on the healthcare and life sciences sectors, providing financial support to enterprises in the United States as well as across Asia and Europe. Currently, Vivo Capital manages over $3 billion in assets.

Novo Holdings, established in 1999 and headquartered in Denmark, is the venture capital arm of Novo Nordisk, a world-leading biopharmaceutical company. The firm primarily invests in the life sciences sector, providing financing to companies at various stages of development.

VenBio Partners, headquartered in California, USA, is a venture capital firm. The company primarily focuses on the life sciences sector and helps industry leaders develop innovative drugs and advanced therapies to meet patients’ medical needs.

(Compiled by Xu Xiaoxue)