Voluntis closes €20.75 million ($29 million) Series D financing round

Apr 28 2014

Voluntis, a pioneer in therapeutic companion software, closes a major Series D financing co-led by Bpifrance and Innovation Capital, plus Vesalius Biocapital, Qualcomm, and existing investors

Voluntis, a company pioneering therapeutic companion software, today announced the completion of its Series D financing round. With a total of €20.75 million ($29 million), this fund raising is one of the largest rounds of investment in the m-health sector this year. The round was co-led by Bpifrance Large Venture and international venture capital firm Innovation Capital. Luxemburg-based Vesalius Biocapital and US-based Qualcomm Incorporated, through its venture capital arm, Qualcomm Ventures, contributed to the round. Voluntis existing Series C investors, CapDecisif Management, CM-CIC Capital Innovation and Sham, also participated in the round.

Voluntis innovates healthcare by embedding connectivity in therapeutics and medical intelligence in software. Dedicated to managing chronic conditions, Voluntis' digital solutions aim to enable treatment personalization, support care coordination, and improve real-life outcomes, as shown through significant results in randomized clinical trials.

Harnessing its proprietary technology, Voluntis is active in diabetes, anticoagulation and hemophilia. In diabetes, Voluntis Insulin Therapy Manager (VITM) is developed to support patients across the insulin pathway. Conceived as part of a significant clinical program, VITM was granted CE mark in December 2013. VITM is branded as Diabeo®, a registered trademark of Sanofi, and as Insulia®, a registered trademark of Voluntis.

Voluntis will utilize the new funds to accelerate the development of its diabetes management solution, advance new programs in other chronic diseases and ramp up its US operations.

"This strong investor syndicate is recognition of our relentless work to design the next-generation therapeutic solutions that combine digital and medical expertise in order to help solve some key daily problems of patients and care providers. This round is pivotal to grow Voluntis. I would like to thank the existing investors for their continued support and welcome the new investors who have stepped up to help us meet the exciting challenges ahead," commented Pierre Leurent, founder and CEO, Voluntis.

Mailys Ferrère, Director in charge of large venture investments at Bpifrance, considers that: "We are particularly pleased to make this significant investment in Voluntis, which is very well positioned to become a global leader in the m-health promising field. Voluntis fits perfectly into our investment strategy which focuses on groundbreaking technology companies in digital, life-sciences or cleantech."

Dr Florian Reinaud, Partner at Innovation Capital, said: "We are delighted to co-lead this round of investment in Voluntis as the first investment from our new Innovative Healthcare Services fund. We share Voluntis' vision that combining best in class information technologies with therapeutics will contribute to solving some of the key issues faced by healthcare systems, notably those related to the management of chronic diseases and ageing. Such innovative solutions will likely become the backbone of an outcome-driven process that integrates care delivery and aligns the interests of patient, providers and payers across the continuum of care."

Alain Parthoens, Managing Partner at Vesalius Biocapital, is "excited to be working alongside Voluntis management and other investors to reinforce and expand the company's capabilities and assets."

Miles Kirby, Senior Director of Qualcomm Ventures Europe, said: "Qualcomm is very pleased to participate in the Series D financing of Voluntis. We see mobile health as an important growth area where the benefits of mobility can transform outcomes for patients and improve the efficiency of health care delivery. We are excited to work with Voluntis on their cutting edge health care applications on both sides of the Atlantic."

"Having recognized Voluntis' potential since 2007, it is very satisfying to see the substantial progress made by Pierre Leurent and his team to move the programs ahead, partner with life science global leaders, demonstrate strong clinical outcomes and secure regulatory clearance," commented Emilie Lidome, Investment Director at CM-CIC Capital Innovation.

"From the beginning, we were very seduced by the Voluntis project and its strong ability to generate value for patients, healthcare organizations and hospitals. Backed by a visionary management team, Voluntis carries a technological disruption that effectively addresses important issues of telemedicine. We are proud of the progress made, and we welcome the arrival of new investors," commented Bervin Bouani, Portfolio Manager at Sham.

For this round of capital raising, Voluntis was advised by Silver Ocean Ventures' Managing Partner, Dr John Tchelingerian.

SOURCE Voluntis