Sensocure is an ambitious Norwegian company, established in 2011, to commercialise IscAlert, the World's first implantable micro sensor for the early detection of ischemia.
Ischemia is a restriction in blood supply to tissues, causing a shortage of oxygen, nutrients and inadequate removal of metabolic waste, eventually leading to cell death. Ischemia is suffered by 30m people globally every year, 10m of whom unfortunately lose their lives. Ischemia is highly preventable if it can be detected early. Unfortunately existing detection solutions simply cannot provide the early, accurate and real time monitoring required by physicians.
In contrast, IscAlert is a user friendly, fast, robust and cost effective real-time monitoring system. It conforms to current medical practice, improves patient outcomes and substantially reduced healthcare costs e.g. less corrective surgery and need for intensive care.
We have made significant progress in the past 18 months. Following the completion of pre-clinical trials of the TRL6 sensor in 2018, Sensocure has now completed a TRL7 version of the IscAlert sensor. This design is smaller, cheaper and significantly more sensitive than the previous version. We now need to embark upon our next and final steps towards commercialisation; completing clinical trials, gaining Class II CE Marking medical device approval for sale in Europe and scaling up our production processes.
In addition to EC support for the EIC Accelerator project, the EIC Fund has approved up to €3.5million in equity investment in Sensocure. This will allow us to scale operations and undertake FDA approval for sales in US markets. By 2027, we will employ an additional 113 staff, annual sales of 38,000 sensors, and have generated total accrued revenues of €59.92m and profits €16.95m.
Market success will save lines and improve patient outcomes, delivering savings to healthcare providers of €102m p.a. and freeing up 18,300 hospital days.
