EQT Life Sciences and Gimv Lead €30M Series C Round for Onera Health to Advance Sleep Diagnostics

EQT Life Sciences and Gimv Lead €30M Series C Round for Onera Health to Advance Sleep Diagnostics

(IN BRIEF) Onera Health, a leader in sleep diagnostic and monitoring solutions, has successfully completed a €30 million ($32 million) Series C financing round. The funding was led by EQT Life Sciences and co-led by Gimv, with participation from existing investors. Onera Health specializes in remote sleep diagnostic and monitoring solutions, offering quick, convenient, and clinically accurate testing. The investment will enable the company to scale its innovative, wire-free solution and expedite regulatory clearance for its advanced polysomnography (PSG) system. This funding supports Onera Health’s mission to become a leader in home PSG within the field of sleep medicine.

(PRESS RELEASE) STOCKHOLM, 16-Jan-2024 — /EuropaWire/ — EQT AB, a purpose-driven global investment organization focused on active ownership strategies, announces that Onera Health, a frontrunner in sleep diagnostic and monitoring solutions, has successfully closed a €30 million ($32 million) Series C financing round, marking a significant milestone in the company’s growth trajectory. The all-equity round was spearheaded by EQT Life Sciences and co-led by Gimv, with enthusiastic participation from existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock.

Revolutionizing Sleep Medicine and Remote Monitoring

Onera Health has positioned itself as a trailblazer in transforming sleep medicine and remote monitoring. The company’s pioneering diagnostic solutions and services are poised to aid millions of individuals grappling with sleep-related issues while also impacting other medical domains by monitoring various chronic conditions, ultimately enhancing patients’ health and quality of life worldwide. Onera Health’s innovative solutions furnish comprehensive sleep test data to physicians across diverse clinical and non-clinical settings, optimizing patient care and curbing healthcare costs. The company maintains a presence in both the Netherlands and the United States.

Advancing Remote Sleep Diagnostic and Monitoring Solutions

This substantial Series C funding will empower Onera Health to expedite manufacturing and deployment plans, addressing the escalating demand for its innovative, self-applied, wire-free end-to-end solution. Furthermore, the company intends to utilize the funds to accelerate the regulatory clearance process for the second generation of its polysomnography (PSG) system in Europe and the United States. This strategic move solidifies Onera Health’s commitment to establishing itself as a leader in home PSG within the field of sleep medicine.

EQT Life Sciences Commits to Onera Health’s Vision

Drew Burdon, Partner at EQT Life Sciences, expressed his optimism about Onera Health’s impact on society: “We all know the effect of a bad night’s sleep on our day. But for those that suffer with sleep disorders, this is more than an inconvenience, and can have a major long-term impact on their health. Onera Health’s disruptive medical technology is helping accelerate the diagnosis of these disorders and has the potential to have a meaningful impact on society. The Company has demonstrated a very strong product-market fit with great potential to improve the quality of patient care, whilst also positively impacting the cost of healthcare. Onera is a fantastic fit for the EQT Health Economics strategy and we could not be more thrilled to be supporting the next phase of their journey.”

Leadership Strengthened by Premier Investors

As part of this pivotal transaction, Drew Burdon and Michaël Vlemmix, Partner at Gimv, will join Onera Health’s Board of Directors, further enriching the company’s leadership and strategic direction.

Ruben de Francisco, Founder and CEO of Onera Health, expressed gratitude for the confidence and support from premier life sciences investors, stating, “We are delighted that two premier Life Sciences investors, as well as our existing world-class investors, have the confidence to join and support us in the next phase of our company journey. This capital infusion will accelerate our ability to scale in the US and Europe. We will continue aggressively investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders. We are incredibly proud and humbled by our success to date and look forward to driving growth together with our new partners.”

Contacts
EQT Press Office, press@eqtpartners.com

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs entrepreneurs who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that entrepreneurs seek. For more information, go to eqtgroup.com/private-capital/life-sciences/.

About Onera
Onera Health is a leader in transforming sleep medicine and remote monitoring. Their breakthrough diagnostic solutions and services are poised to help millions of people struggling with sleep-related ailments while also impacting other medical fields by monitoring various chronic conditions, ultimately improving the health and quality of life of patients worldwide. The company’s innovative solutions provide comprehensive sleep test data to physicians in a variety of clinical and non-clinical environments to optimize patient care and reduce healthcare costs. Onera has offices in the Netherlands and the US. For more information, go to onerahealth.com.

SOURCE: EQT AB