Aevice Health, a leading provider of remote monitoring solutions for chronic respiratory disease management announced that it has raised US$7M Seed Plus Round led by Coronet Ventures, the Singapore-based venture unit of Cedars-Sinai Intellectual Property (CSIP) Co. Participating in the round include East Ventures, A&D Company, Limited, NTUitive, Farquhar Venture Capital and existing investor Silicon Solution Venture, along with SEEDS Capital, the corporate investment arm of Enterprise Singapore.
The funding will be used to advance Aevice Health’s operations in key markets including US, Japan, and Singapore, leveraging the unique network each investor brings to each key market.
This investment builds on recent commercial and clinical milestones for Aevice Health, including successfully obtaining regulatory approvals for AeviceMD in the US and Singapore, entering a partnership with A&D Company, Limited in Japan, and establishing a clinical collaboration with Cedars-Sinai through the Cedars-Sinai Accelerator.
“Chronic respiratory disease continues to be a leading cause of death, yet solutions to address patient needs remain nascent and scarce. Aevice Health has developed one of the first remote patient monitors designed for chronic respiratory disease patients available in the market,” Adrian Ang, Chief Executive Officer of Aevice Health said. “We are grateful to have the support of our new and existing investors. Their investment reaffirms our commitment to bring impactful solutions to the lives of many suffering from chronic respiratory disease.”
“Aevice Health has developed a much-needed remote patient monitoring solution for the respiratory market. They have an excellent team, and their established pathways into the US healthcare and distribution networks place them on the right track to grow the company fast. We are excited to continue our close work with Aevice Health to make them a success story for all our stakeholders,” said Nirdesh K. Gupta, Ph.D., Chief Executive Officer, Coronet Ventures.
Chronic respiratory disease is currently the third leading cause of death worldwide, with an estimate of 4 million people dying prematurely due to the disease. With millions of patients having limited access to care to assess their conditions, many patients remain unaware of risk factors which can escalate into life-threatening respiratory exacerbations.
Founded in 2018, Aevice Health has developed an award-winning remote monitoring platform featuring the world’s smallest smart wearable stethoscope to provide care for patients with chronic respiratory disease through the care continuum. Using a cutting-edge algorithm to analyze heart and lung sounds, the platform continuously monitors the patient for clinical deterioration by tracking biomarkers including respiratory rate, heart rate, and wheezing. By providing healthcare professionals with patients’ longitudinal data and the capability to utilize a remote stethoscope on their patients, Aevice Health’s solution enables comprehensive lung health assessments to be conveniently conducted from the patients’ homes.
“We are glad to double down our investment in Aevice Health. We have great confidence in Adrian and his team’s ability. We look forward to experiencing the exciting advancements they will bring to healthcare, enhancing personalized and effective respiratory care for patients globally,” said Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
With the fresh funds and a pipeline of clinical and strategic partners globally, the company aims to enhance product development and expand access to key markets, positioning its solutions as ubiquitous as the thermometer for home management of chronic respiratory disease.
“SEEDS Capital and Coronet Ventures are delighted to continue our support for Aevice as it creates clinical impact through continuous remote respiratory care monitoring. This partnership will allow Aevice to tap Cedars Sinai’s expertise to navigate the US market’s clinical, regulatory and healthcare reimbursement systems to quicken its expansion into the market, and ramp up commercial activities to benefit the wider community,” said Tan Kaixin, General Manager at SEEDS Capital.
