[Sonic Incytes] Sonic Incytes Successfully Completes Series A Raise of US$7.3M to Accelerate Velacur
[Sonic Incytes]
DECEMBER 7,
2021
Sonic Incytes Medical Corp., a health
technology company focused on liver health, is pleased to announce the
completion of its US$7.3M Series A with backing from Nimbus Synergies as the
lead investor, and support from Nicola Wealth, Mint Venture Partners,
Consortium Medteq, Wavemaker Three-Sixty Health, Gaingels and INP Capital, as
well as notable angel investors.
The strategic equity round, which was
oversubscribed by 150%, comes after the launch of VelacurTM, the first handheld
3D liver health assessment solution, in the US market in early 2021.
Cleared by the FDA, VelacurTM is a
handheld, point of care ultrasound solution that quantifies liver disease using
technology similar to MRI elastography combined with 3D tissue sampling. It provides
consistently accurate results, enabling a clear picture of liver health in real
time, so physicians can be confident in the diagnosis, treatment and care of
their patients with chronic liver disease. Unlike biopsy and MRI, the procedure
is non-invasive, comfortable and convenient. It takes about five minutes and
can be performed in a physician’s office.
“Velacur is poised to make a mark as an
innovative solution to detect liver disease, and we’re excited to have the
support of investors who believe in our vision and mission,” states George
Aliphtiras, CEO of Sonic Incytes. “Their support is based on the recognition
that fatty liver disease is a significant health issue and underscores the need
for an accurate, accessible and affordable point of care diagnostic tool to
assess and manage millions affected by this often-silent disease.”
In addition to Nimbus Synergies’
investment, Paul Geyer, CEO of Nimbus Synergies, will be joining the Sonic
Incytes’ Board of Directors effective immediately. Over the past 30 years,
Geyer has founded or led three companies, and since 2008 has focused on
assisting entrepreneurs in building successful businesses as a mentor, partner,
and investor.
“Paul is a successful entrepreneur, board
member, angel investor, and venture capitalist, and we’re pleased to leverage
his expertise as part of our Board of Directors,” explains Aliphtiras.
“Fatty liver disease is a growing global
epidemic affecting more than one billion people and is commonly associated with
diabetes and obesity. This disease causes permanent liver damage and
mortality,” states Geyer. “Our vision at Nimbus is to improve health through
Canadian-led innovation and by investing in this technology spun-out of the
University of British Columbia, we are helping solve real-world health crises
like chronic liver disease.”
About Sonic
Incytes Medical Corp.
Sonic Incytes believes in creating
accessible and affordable diagnostic solutions – with health insights you can
count on – to improve patient care. Recognizing the rise of chronic liver
disease, Sonic Incytes has made it its mission to reduce the disease by
enabling routine assessment and improved management of liver health. Its
breakthrough, point of care ultrasound solution, VelacurTM, is redefining the
standard of care in quantifying chronic liver disease – with diagnostic
accuracy comparable to MRI.
Founded in 2017, Sonic Incytes is a health
technology company headquartered in Vancouver, British Columbia, Canada. Follow
us on Twitter, LinkedIn, YouTube and www.sonicincytes.com.
About
Nimbus Synergies
Nimbus Synergies leads early-stage
financings in innovative and complementary health technology companies in
Canada. By bringing these companies together to share resources, industry
specific knowledge, and relationships, Nimbus is accelerating their growth and
increasing their likelihood of success. Nimbus is significantly impacting the
digital health sector through its leadership as investor, partner, and mentor.
Follow Nimbus Synergies on LinkedIn or
visit www.nimbusinc.vc to learn more.