BioSerenity Secures €65M Series B Funding to Advance Wearable Medical Devices and Remote Diagnostics

VCBeat (WeChat ID: vcbeat) has learned from foreign media that medical device company BioSerenity recently announced the completion of a €65 million (approximately $74 million) Series B financing round. The proceeds will be used to accelerate the development of sensor-equipped wearable devices, provide related telemedicine solutions in the fields of cardiology, neurology, and sleep disorders, and expand its business internationally.

It is reported that this financing round was led by Dassault Systèmes, with participation from BPI, Idinvest, and LBO France. Among these, €50 million was invested exclusively by Dassault Systèmes.

BioSerenity is a medical device company based in Paris, France. Leveraging advanced engineering and big data analytics in medicine, the company is dedicated to developing wearable devices for the diagnosis and monitoring of epilepsy through long-term monitoring of anonymous electroencephalogram (EEG) signals.

BioSerenity is committed to providing patients with continuous, around-the-clock care. In the field of neurology, the company collaborates with more than 200 hospitals worldwide, establishing 20,000 network connections annually to interpret EEG signals, with an average turnaround time of 55 minutes per electroencephalogram interpretation. Currently, BioSerenity is developing Neuronaute, which aims to improve the diagnosis of neurological disorders in adult patients by simplifying the use of EEG.

In the field of sleep disorders, BioSerenity has partnered with 85 sleep centers worldwide to establish a network of 45,000 connections and is developing Somnonaute, a medical device designed to optimize the diagnosis of sleep disorders. In cardiology, the company provides continuous, anytime-anywhere care for patients through electrocardiogram (ECG) technology. Additionally, in collaboration with WeHealth, it has developed the CardioSkin device, which enables healthcare professionals to conduct direct diagnostics and assessments of cardiac patients within medical facilities.

BioSerenity, part of the 3DEXPERIENCE Lab, is currently leveraging textile innovations and artificial intelligence to develop wearable medical devices and digital point-of-care solutions. By integrating Internet of Things (IoT) and cloud technologies, it provides electronic patient-reported outcomes (ePRO) for patients. BioSerenity not only delivers comprehensive care services to healthcare professionals but also offers companion diagnostic solutions to pharmaceutical companies.

BioSerenity was founded in 2014 and has completed three rounds of financing to date. The first two rounds were as follows: on November 19, 2015, it completed a €3 million seed round led by Kurma Partners; on September 20, 2017, it completed a €15 million Series A round led by LBO France.

Dassault Systèmes, founded in 1981, is a systems software provider headquartered in Paris, France. The company offers the 3DEXPERIENCE platform, with applications spanning multiple domains, including 3D modeling, social collaboration, information intelligence, and content simulation.

BPI, established on August 1, 1851, is the third-largest bank in the Philippines. The bank offers a wide range of financial products and services to retail and corporate clients, including loans, asset management, insurance, securities brokerage, foreign exchange, and leasing. Currently, BPI operates more than 800 branches in the Philippines, Hong Kong, and Europe, and maintains nearly 3,000 automated teller machines (ATMs) and cash deposit machines (CDMs).

Idinvest, established in 1997 and headquartered in Paris, France, is a pan-European private equity firm focused on the lower mid-market segment. The firm manages over €6 billion in assets and specializes in investing in European startups.

LBO France is one of the largest private equity firms in France, founded in 1998. As of the end of 2013, the firm managed €3.3 billion in assets.

(Compiled by Wang Chan)