View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
March 4, 2020

Element Science raises $145.6m through Series C funding round

US-based medical device and digital health company Element Science has raised $145.6m through a Series C funding round to boost its next-generation digital wearable platform.

US-based medical device and digital health company Element Science has raised $145.6m through a Series C funding round to boost its next-generation digital wearable platform.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

Led by Deerfield Healthcare and Qiming Venture Partners USA, the financing round has seen participation from existing investors Third Rock Ventures and Google Ventures, as well as Cormorant Asset Management and Invus Opportunities.

The proceeds from the round will go towards the completion of clinical studies and the commercial launch of the company’s first product, the Jewel Patch Wearable Cardioverter Defibrillator (P-WCD).

The product detects and treats severe arrhythmias in patients with an increased temporary risk of Sudden Cardiac Death (SCD).

In the US, around 500,000 patients are at the risk of SCD every year.

Element Science founder, president and CEO Uday N Kumar said: “Our next-generation digital wearable is a unique breakthrough in personalised digital healthcare based on years of extensive research and testing. The Jewel platform supports both therapeutic and diagnostic capabilities and is designed for ease of wearability to facilitate high compliance and efficacy.

“Given the broad potential for the Jewel platform to save and improve the lives of patients worldwide, we welcome the strong support of this impressive consortium of investors.”

The company will also use the funds to develop digital wearables based on its novel Jewel platform, including solutions to address the treatment of SCD in inpatient settings and the diagnosis of heart failure exacerbations in patients after discharge.

Element’s Jewel platform unites patient-centric human factor engineering and machine learning algorithm development principles on a basis of electromechanical medical device development standards.

The Jewel P-WCD is the first product to be developed on the platform.

Element Science is a San Francisco-based medical device and digital health company, which focuses on producing clinical-grade wearable devices, machine learning algorithms, and life-saving therapies.

Related Companies

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network