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9 November 2017

Eversens samples $765,000 in funding

The Public University of Navarre spinout will use the funds to prepare clinical trials of its biomarker-based asthma diagnosis device.

Author: Callum Cyrus, reporter

Eversens, a Spain-based asthma technology developer spun out from Public University of Navarre, has raised €660,000 ($765,000) in a round led by government-backed tech transfer fund UN I+D+i Technology Transfer.

UN I+D+i, which primarily invests in University of Navarra technologies, committed €330,000 to the round, while VC firm Startup Capital Navarra supplied €230,000. Sodena, a regional government-owned development agency, has provided an equity loan of €100,000.

Eversens named UN I+D+i and Sodena as existing shareholders, but further details have not been disclosed. The university launched Eversens as a collaboration with Cinfa, a development subsidiary of diversified pharmaceuticals conglomerate Grupo Infarco.

Founded in 2015, Eversens’s asthma detector quantifies how much nitric oxide – a strong biomarker for identifying the breathing condition – is exhaled by the patient during diagnosis. Conventional alternatives often measure subjective symptoms rather than a firm compound.

The cash will help fund clinical trials of the Eversens device at hospital complex Complejo Hospitalario de Navarra, once approval is received from regulator Spanish Medicine Agency. More funding will be used to complete legal applications needed to bring the product to market.

Eversens builds on research by professors from Public University of Navarre’s Electrical and Electronic Engineering department – Francisco Arregui, Ignacio Matías and Juan Azpeitia, as well as associate professor Leyre Ibarrola. 

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