Growth companies attract investors to Healthtech Invest Europe 2017
Finland’s KIDE Systems and Combionistics are two of the 40 European companies, all selected by an expert panel of seasoned investors, invited to present at Healthtech Invest Europe 2017.
Imaging is increasingly being used not only for diagnosing disease, but increasingly also for monitoring the effectiveness of treatment. However, users often face poor system interfacing and connectivity with the disparate systems in clinical use today. KIDE Systems has developed cloud-based services, which allow for more efficient and effective medical imaging information workflow to support patient care.
Using artificial intelligence to diagnose Alzheimer's disease, Combinostics is a spin-off company of the Technical Research Centre of Finland (VTT). Combinostics solutions allow for earlier and more accurate diagnoses, promising better planning of care. “With an aging population and lifestyle changes, memory disorders are becoming more common in today’s societies. However, earlier diagnosis with appropriate care offers hope of significantly extending the quality of life for patients with Alzheimer’s disease,” Kaarela envisions.
Encouraging early-stage investments in the Finnish health technology sector
“In recent years, startups and growth companies in Finland have been able to attract the highest level of funding in Europe, in relation to GDP,” notes Kaarela. “Also, a recently published study commissioned by the European Commission praised Finland for its highly skilled work force, ranking the country first in knowledge and innovation capacity of all EU states. With this solid foundation, I am very optimistic about boosting foreign direct investment also in the health technology sector.” Kaarela concludes, “The successful financing rounds for both Noona Healthcare and Desentum are recent examples of the progress we are making in Finland.”
Noona Healthcare offers cancer clinics a real-time holistic view of their patients' wellbeing as a remote, interactive mobile service. At the end of last year, Finland’s Noona Healthcare raised seed funding of € 1.5 million from Finland’s Inventure, Belgium’s Capricorn ICT Archives and Noaber Ventures from the Netherlands. With this new financing, Noona aims to launch its service in ten new markets, together with strategic partners.
Desentum is a Finnish biopharmaceutical company developing hypoallergen-based immunotherapies for people suffering from common allergies. In January 2017 Desentum announced that that it had garnered around € 2 million for the development of a novel birch pollen allergy vaccine. Participating in the investment round were Belgium’s Cascara Ventures, Luxembourg’s ACME Investments, Finland’s VTT Ventures and Sto-Rahoitus, as well as the company's founding shareholders.
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