09 Oct Renalyse has successfully closed an investment round of 1 M€ in public and private capital
The operation was led by the Mind the Gap program from Botín Foundation, with participation from GENESIS Ventures and the Eurostars program.
The primary goal of this operation is to industrialize and certify the Renalyse device, which is used in the diagnosis and monitoring of chronic kidney disease, affecting over 90 million people in the European Union.
Established in 2017, this spinoff from the Universitat Rovira i Virgili, led by Adrià Maceira, has previously received investment from Banco Sabadell through the BStartupHealth program and actively collaborates with the Hospital Clínic Foundation.
Tarragona, October 9, 2023.- Renalyse, also known as CreatSens Health, has concluded an investment round led by the Mind the Gap program of the Botín Foundation, with participation from GENESIS Ventures and the Eurostars program. In this manner, Renalyse has secured 1 M€ that will be allocated towards the industrialization and certification of its Chronic Kidney Disease diagnostic and monitoring device.
The company was founded in 2017 with the aim of developing a medical device to enhance kidney disease treatments. The funding acquired through this operation will enable Renalyse to certify its in vitro diagnostic product and enter the market by 2026. This device, also named Renalyse, will remotely measure three key parameters for patients with chronic kidney disease, a population exceeding 90 million in the European Union. The project empowers patients to personally measure these parameters, facilitating immediate attention in case of serious problems at home. These markers can prevent conditions such as arrhythmias, anemias, severe deficiencies, or even cardiopulmonary diseases.
This investment round is spearheaded by Mind the Gap, the Botín Foundation’s program aimed at promoting biotechnological entrepreneurship. It operates through a co-investment vehicle with the participation of private investors alongside the Foundation. Since its inception in 2010, Mind the Gap has invested over 6 M€ in emerging business projects and currently boasts a portfolio of 9 companies. In 2022, these companies sustained 145 jobs, predominantly highly qualified, and collectively generated over €7 million in revenue. Mind the Gap has committed an investment of €500,000 in Renalyse. Íñigo Sáenz de Miera, the General Director of the Botín Foundation, emphasizes, ‘This investment in Renalyse reinforces the Botín Foundation’s commitment to supporting Spanish entrepreneurs developing biomedical innovation with a high socio-health impact. We are obligated to continue seeking new ways to transform talent into wealth; therefore, we work to turn our scientists’ discoveries into products, services, and technologies that generate economic and social development.’
GENESIS Ventures, managed by the consulting firm GENESIS Biomed, is also a participant in this operation. Established in 2017 with a total of €2.5 million, GENESIS Ventures aims to invest tickets ranging from €25,000 to €100,000 in early-stage biomedical projects. It has invested a total of €100,000 in Renalyse. According to Josep Lluís Falcó, the administrator of GENESIS Ventures and co-founder and CEO of GENESIS Biomed,
‘Renalyse represents a significant investment for our portfolio of companies. It is developing a diagnostic device that will revolutionize the clinical management of patients with chronic kidney failure. Furthermore, the involvement of the Botín Foundation in this project, along with institutions already present such as the Hospital Clínic or BStartup Health, confirms that Renalyse is a winning investment. We are excited to become part of the company’s Board of Directors.’
This project, currently in the pre-industrialization phase, will introduce an assistance platform for personal use. It can be utilized by both patients at home and doctors in primary care consultations. Currently, the monitoring of these parameters is conducted through blood tests in clinical laboratories or with devices in hospital emergency areas used by specialists. Renalyse’s value proposition is a more economical device that provides immediate results, allowing patients to monitor their disease from home without needing to be experts.
Also noteworthy is the contribution of Eurostars to Renalyse, a European collaboration program between companies designed to support innovative SMEs and their partners. It finances their international innovative R&D projects. The selected collaborative projects aim to create a new product, process, or service that can be rapidly commercialized. This purpose has led to the project led by Renalyse, along with its Polish partner Medapp, receiving 1 M€ in collaboration for the development of the Renalyse platform.
RENALYSE is the registered trade name of CreatSens Health S.L., a biotechnology company focusing on the development of medical platforms and devices to improve patients’ quality of life by monitoring various biochemical parameters. The company was established in September 2017, originating as a spin-off from the Universitat Rovira i Virgili (URV) in Tarragona.
More information: www.renalyse.com
About Botín Foundation
The Marcelino Botín Foundation was founded in 1964 by Marcelino Botín Sanz de Sautuola and his wife, Carmen Yllera, with the objective of promoting the social development of Cantabria. Nearly sixty years later, the Botín Foundation contributes to the comprehensive development of society by exploring new ways of detecting creative talent and investing in it to generate cultural, social, and economic wealth. The foundation operates in the fields of art and culture, education, science, and rural development, supporting social institutions in Cantabria to reach those in need. While the Botín Foundation primarily operates in Spain, especially in Cantabria, it is also active in Latin America.
More information: www.fundacionbotin.org
About Genesis Ventures
GENESIS Ventures is an investment vehicle established in 2017 and managed by the consulting firm GENESIS Biomed. Its purpose is to detect and invest in early-stage projects in the biomedical sector. The fund was created from the annual profits of the consulting firm and with the collaboration of three Family Offices in the sector, totaling 2.5 M€. It invests tickets ranging from 25,000 to 100,000 € depending on the nature of each project and its needs.
EUROSTARS is a support program for R&D-intensive SMEs in the development of transnational market-oriented projects. The program selects projects with a clear technical disruptiveness compared to the state of the art and with a clear market orientation. This financing program involves up to 37 European member countries of the EUREKA network, and since 2016, Canada and South Africa have participated.
More information: www.eurekanetwork.org