U-Needle secures growth financing
U-Needle secures growth financing for the global rollout of its Bella-mu product range
Enschede, The Netherlands, September 28th, 2020
U-Needle is pleased to announce the closing of an equity financing round of EUR 4,9 million by Holland Capital and Waterman Ventures along with existing shareholders including UT International Ventures incubator fund.
U-Needle has developed Bella-mu, a range of needles created for intradermal (within the skin) drug delivery. Intradermal injections are used for many innovative therapies and vaccines as well as for treatments in the field of aesthetics. For example, the intradermal route of delivery, allows for directly targeting the immune system, enabling more effective treatments and significant dose-sparing effects. During a pandemic outbreak such as COVID19, such dose-sparing effects may assist in vaccinating as many people as soon as possible in a period of limited availability of the vaccine. Bella-mu is an easy-to-use, patient friendly intradermic needle that is very small (micro), very sharp, highly accurate and far more reliable than conventional methods. As opposed to standard hypodermic stainless steel needles, Bella-mu is manufactured using semiconductor technology, making it a highly scalable product. Bella-mu is CE certified, has recently received FDA 510(k) clearance and is currently sold globally to top tier pharma companies.
The funding will be used to scale-up the production of Bella-mu, and to expand U-Needle's commercial activities globally. Bella-mu will unlock the true potential of intradermal drug delivery and become the preferred route of administration for numerous existing and future therapies, ranging from aesthetics to vaccination.
Jeroen Wissink, CEO U-Needle: “We have always been aware of our potential regarding pandemic outbreaks, not expecting it to come so fast! We are very happy that we have found these professional partners to help us make a positive impact on the health of many people at exactly the right time.”
Jan-Frens van Giessel, Holland Capital: "The U-Needle team uniquely combines high tech semiconductor expertise with relevant experience in pharma and healthcare, which has led to this innovative product that improves the quality of healthcare for patients and healthcare providers, while keeping costs in check. We are proud to be joining the team in this next phase of growth."
Peter Rutgers, Waterman Ventures: “Intradermal delivery has an increasingly big role to play in therapeutic and prophylactic vaccination, and U-Needle’s innovative needles will accelerate this development. We are excited to support U-Needle’s experienced team to effectively scale-up production of the needles and bring them to market accordingly."
About U-Needle:
U-Needle designs and manufactures easy-to-use, patient friendly intradermic needles that are very small (micro), very sharp, highly accurate and reliable. Its proprietary intradermic needle technology makes use of innovative manufacturing processes and needle designs.
Contact: Jeroen Wissink (CEO), info@uneedle.com
About Holland Capital:
Over the past 37 years, Holland Capital has invested in more than 135 Dutch SMEs in a responsible and successful manner. With a clear investment strategy, Holland Capital is active in the growth markets of both healthcare and technology. The experienced and involved investment team knows what true entrepreneurship is like. With the joint goal of achieving growth, Holland Capital strives for an open, sustainable and professional relationship with the management teams of the companies in which it invests. Holland Capital is supported by a broad network of successful healthcare and technology entrepreneurs.
Contact: Jan-Frens van Giessel (Partner), janfrens.vangiessel@hollandcapital.nl
About Waterman Ventures:
Waterman Ventures invests in ambitious technology companies that combine a positive impact on society with a healthy financial return. Over the last 30 years, we have been a long-term partner to many successful businesses. Our team, based in the Netherlands, shares a passion for technology and a hands-on mindset to supporting growth in our portfolio companies.
Contact: Peter Rutgers (Director), peter@watermanventures.nl