Spark plug producer NGK Spark Plugs has agreed to lead a $15m series C-2 round for US-based asthma monitoring system developer Spirosure, which aims to close the first tranche this month.
Founded in 2011 and formerly known as Spirometrix, Spirosure is working on a point-of-care breath analyser called Fenom Pro that can help clinicians assess an asthma sufferer more effectively. It comes with an app that helps patients track symptoms and reminds them when to medicate.
Solomon Ssenyange, Spirosure’s chairman and CEO, said: “Our investors recognise Fenom Pro represents a dramatic advance for allergists, pulmonologists and primary care physicians in diagnosing, managing and monitoring patients’ asthma.
“This connected medical device is comprised of several sensors along with a digital ecosystem designed for supporting their clinical decisions.”
The company plans to raise $6m by January 15, and a $9m second tranche by the end of July this year. The capital will support sales and regulatory work in Europe, where Spirosure is currently recruiting staff.
NGK invested $5m of the $8.6m Spirosure raised in its 2014 series B round, which increased the company’s overall funding to $12m according to MobiHealthNews, participating alongside Simul Investments.
Spirosure closed the $17.4m first part of the series C round in June 2016. Shanghai Fosun Pharmaceutical, a pharmaceutical subsidiary of conglomerate Fosun, led the round, which included NGK, Carmen Innovation, Iconical, Ohio Innovation Foundation and South Valley Angels.
– Image courtesy of Spirosure Inc.