The start-up NanoVation raises 5 million euros from the European Innovation Council

The start-up company NanoVation from Haifa raises 5 million euros from the European Innovation Council (EIC) fund, to accelerate the development of the SenseGuard הנ breathing monitoring device based on NanoVation's proprietary nano-sensors technology, and to launch initial marketing efforts in Europe.
Last year, NanoVation received a € 2.5 million grant from the EU's most prestigious and competitive EIC Accelerator Horizon 2020 program. NanoVation is the first Israeli company to receive a grant and capital financing from the EIC. The recent investment underscores the EIC's confidence in NanoVation's groundbreaking product and its potential to significantly impact the field of respiratory monitoring and management of chronic diseases.
NanoVation was founded in 2014 on the basis of technology from the Technion, and is managed by Dr. Gregory Schuster, who serves as CEO, Nadav Bachar, the CTO, and Prof. Hossam Hayek, the Chief Scientist. The company currently employs 20 people, mainly in R&D and production positions.
SenseGuard ™ is a wearable wireless device designed for both short measurements and continuous monitoring of patients' breathing and allows remote monitoring and management of various respiratory conditions and chronic diseases. The device has undergone clinical trials and received CE approval for its marketing in Europe, after proving that the technology is extremely safe and accurate in monitoring patients' breathing. The system makes it possible to save costs and improve the patient's safety and quality of life by reducing the number of hospitalizations, which are caused by worsening breathing that has not been diagnosed. This move also makes it possible to shorten the length of the patient's stay in the hospital. This is done by providing data that supports decisions and enables effective and timely action by health professionals. As a result, patients can be discharged from the hospital earlier, through a sequence of patient follow-up at home.
Unlike existing solutions, SenseGuard ™ can provide clinically useful information about lung health, lung function and disease spread, by analyzing the patient's natural breathing. The measurement in the device is simple, does not require unpleasant breathing maneuvers and stressors on the part of the patient, and does not require the supervision and guidance of a clinical professional to ensure correct performance and reliable results. This capability allows patients to use the device at home and perform the daily measurements themselves.
Dr. Gregory Schuster, CEO and Co-Founder of NanoVation, said: "We are grateful for the honor of being the first Israeli company on the exclusive list of companies that receive both a grant and capital funding from the EIC. "In the new technology we are developing and recognizing the importance of the problem our product is facing. We strive to maintain momentum and even consider increasing the latest round of financing, to ensure effective market penetration and growth."
Jose Fernando Figgardo, a member of the EIC Fund's Investment Committee, said "NanoVation is a great example of how the EIC Fund is aimed at the best innovators across Europe and related countries. Funding will support NanoVation's ability to successfully expand its groundbreaking SenseGuard technology. "This is an innovative solution for monitoring patients with respiratory diseases, including chronic obstructive pulmonary disease (COPD), based on nanosensor technology designed to improve patients' quality of life and the quality of care they receive, as well as reduce costs in healthcare systems."