Medasense Biometrics Ltd. Raises $8 Million Investment in Series B Financing
Medasense Biometrics Ltd., developer of a proprietary objective pain monitoring technology, announced today the closing of an $8 million Series B financing round. The financing was led by Benslie International Ltd., and joined by existing investors and a strategic investor – a leading global medical technology corporation.
“We are excited by the support provided by our investors” commented Galit Zuckerman, Medasense’s CEO and founder. “Despite the prevalence of pain, there are currently no clinically accepted tools to objectively assess pain. Objective and accurate pain assessment can support clinicians to optimize and personalize pain management, helping improve patient outcomes at hospitals, clinics, and at home.”
Medasense will use the new funding to accelerate commercialization of its flagship product PMD-200™: An objective pain monitoring system for operating rooms and critical care, where patients under general anesthesia are unable to communicate their pain. The system consists of a non-invasive finger probe that records multiple pain-related physiological signals, and the PMD-200™ monitor, which uses a composite algorithm to determine an individual’s real-time, pain level index – NoL™.
Considering the complex nature of pain, Medasense technology uses a unique multi-parametric approach and advanced statistical modeling to convert complicated data into a patient’s “Signature of Pain”.
The validation of the technology was achieved in the ultimate setting of patients undergoing surgery in world-class renowned hospitals in Europe, Israel, the US and Canada. Key results from the clinical studies, published and cited in leading peer-reviewed medical journals, indicate the NoL™ index outperforms currently used parameters and methods.
“We are very excited to partner with Medasense and we believe its novel technology will make a real difference in pain management. Medasense represents that rare combination of cutting-edge technology, huge market potential, and strong leadership,” observed Alejandro Weinstein, managing partner at Benslie.
About Medasense Biometrics
Medasense Biometrics Ltd. is a medical device company that has developed an innovative, platform technology that can objectively assess and monitor changes in a patient’s pain level by processing multiple physiological parameters affected by pain and by analgesic administration. Better assessment of pain can optimize pain management, improve patient outcomes, and reduce adverse events and associated costs. Please visit www.medasense.com for more information.
About Benslie International Ltd.
Benslie International Ltd. is led by Mr. Alejandro Weinstein Manieu. Mr. Weinstein has extensive industry experience. He transformed a local Chilean pharmaceutical company, CFR Pharmaceuticals, into a global pharmaceutical powerhouse, eventually selling it in 2014. Mr. Weinstein has served as a board member for various pharmaceutical companies in Latin America, Europe, and South East Asia, and of several social initiatives such as Educa UC, Fundación Genómika, and Consorcio Tecnologico en Biomedicina.