HEMIDEINA RAISES $4 MILLION IN SERIES A ROUND SIGNALLING STRONG MARKET SUPPORT
MELBOURNE, AUSTRALIA. November 16, 2019: Hemideina, a hearing solutions company focussed on the development and commercialisation of the Hera Wireless Implant, announced today that it successfully raised a Series A investment of $4 million in their second round of equity financing.
The capital raising follows the company’s success in validating its core mechanical signal processing technology. Achieving several significant technical milestones convinced investors that Hemideina was on track with their development and commercialisation strategy.
This financing will enable Hemideina to invest in its development program to advance the Hera Wireless Implant towards pre-clinical testing, extend the company’s IP portfolio and expand the expert team who will lead the company’s commercialisation activity.
Dr. Elizabeth Williams, CEO of Hemideina said: “We are incredibly appreciative of the overwhelming response to our Series A round from both existing and new investors. The local investment community has demonstrated a strong understanding of our proposition, and its inherent value. We have made substantial progress this year and we are moving closer to realising our clinical and commercial objectives.”
Andrew Maxwell, Chairman of Hemideina, said: “This pioneering, life-changing technology with global relevance is an incredible alternative for the hearing impaired. Our solution will provide an option for families in the well-established and reimbursed market that includes children under the age of 18, and also the substantial emerging seniors market. It is a powerful story and investors can see its health benefits and economic promise. The recent level of interest from the global hearing implant clinical community and support from investors will play a crucial role in helping realise the full potential of this technology and market opportunity.”
The Company’s capital raise was managed by Henslow, an independent advisory firm that supports growing companies and their stakeholders through every phase of the business’s evolutionary life cycle.
Founded in 2017 by scientists, Drs. Kate Lomas and Elizabeth Williams, with a mission to revolutionise hearing for the profoundly deaf, Hemideina takes inspiration from biological systems to deliver solutions in human hearing. Hemideina’s Hera Wireless Implant is based on the company’s proprietary signal processing technology and is set to disrupt the hearing implant market currently worth $1.8bn.